Home Highlights August 2012 Year 2012 This

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1. Entitlement for depreciation on cinematographic films @ 100% - rights are integral and form and represent rights of a film distributor - deduction of full claim allowed - HC

2. Computing the profits and gains of the business of production of feature films - the amount realised by the assessee on sale of audio rights and TV rights of the film...

3. Correct head of income - Profit or loss derived from sale of land - Assessee has computed profit or loss derived from sale of land under the head ‘capital gains’ to...

4. Purchases of the TV Programs/Film rights - Assessee amortised the "inventories‟ as per the method of accounting consistently followed by him over the years - the...

5. Excess amortization cost debited to the profit and loss account - addition was in respect of Satellite rights of 107 films, Split wide open (satellite rights) and...

6. Renting of immovable property service - The appellant entered into agreements with the film distributors under which the film distributors granted copyright license in...

7. Transfer of leasing rights of Films - considered to be 'goods' OR 'sale'? - Rule 9B(6), - "sale" of rights of exhibition of a feature film would include the "lease" of...

8. By using the word “including“ in entry 28, the Legislature did not wish to include an article which would normally be covered by the general terms “films of all kinds“...

9. The case involves a dispute regarding the eligibility of deduction u/s 80IB for profits derived from repairs and maintenance services of moulds in an industrial...

10. Transitional credit - revision of the Form TRAN-1 and Form TRAN-2 - The interest of justice would be served if we allow the petitioner to correct Form TRAN-1 in Writ...

11. Renting of immovable property Service - Bundled services - Appellant had entered into agreements with films Distributors under which the theatrical exhibition rights for...

12. The appellants' services of promotion and marketing of films' music and song video rights acquired from Film Production Companies (FPCs) do not constitute 'Business...

13. Like other rights which form part of the fundamental freedoms protected by Part III, including the right to life and personal liberty under Article 21, privacy is not an...

14. Taxability of amount received for giving up his rights over properties - family settlement - sum received by assessee is traceable to the realisation of rights as legal...

15. Classification of services - Licensing services for the Right to Broadcast and Show Original Films, Sound Recordings, Radio and Television Programmes etc. - Trade...