Assessee gets enduring benefit from the rights acquired in films ...

Case Laws     Income Tax

June 11, 2016

Assessee gets enduring benefit from the rights acquired in films and serials and they do not expire on the date of first telecast as contemplated by the assessee - The rights are intangible assets within the meaning of Explanation (iii) to Section 32 and do not fall within the purview of Section 37(1). The assessee is entitled to claim depreciation on same - AT

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