Purchases of the TV Programs/Film rights - Assessee amortised ...

Income Tax

August 18, 2015

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 argument towards applicability of the AS-26 to the TV Programs and Film rights is not supported by any precedents - AO's proposal to invoke the provisions of section 32(ii) rejected - AT

View Source

← Previous Next →

Purchases of the TV Programs/Film rights - Assessee amortised ...

Income Tax

August 18, 2015

You may also like:

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...

Levy of purchase tax - assessee has provided new TV sets in lieu of the old TV sets - even exchange/barter will fall within the definition of sale / purchase - HC

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

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

Income accrued in India - the sale proceeds cannot be characterized as 'Royalty' as per Article 12 of the India- Ireland DTAA, as the same is towards the use of...

TDS liability - purchase of telecast rights from the film producers - Payments made by assessee towards acquiring satellite rights of films are not ‘royalty’, hence...

Rate of depreciation on ‘film software library' - the asset which consists of ‘Copyrighted Films and Programmes’ is an ‘Intangible Asset’ eligible for depreciation at...

Entitlement to the benefit of Section 80IA - the profit derived form realization of TV/Films rights given on lease - SC

Royalty expenditure - Capital OR Revenue - assessee purchased distribution rights of the Punjabi film - As the AO has ignored the Board Circular No. 92 dated 18.9.1972...

Capital gain - Addition u/s 50C - "transfer" u/s. 2(47) - Relevancy of date of sale deed - When section 2(47) of the Act specifically deals with “sale‟ under...

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...

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...

Revision u/s 263 - AO allowed of the assessee‟s claim for deduction of forfaiting charges as revenue expenditure - as the A.O while framing the assessment had...

Claim of deduction u/s 80IB(10) - CIT(A) granted relief to the assessee appreciating the assessee‟s explanation relating to some glitches in the software. The said...

Addition of write off of inventory - assessee could not file any evidence to prove that whether any report has been submitted to stock exchange and SEBI on this issue -...

Quick Updates: