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2010 (10) TMI 563 - AT - Income TaxCapital or revenue expenditure - assessee is engaged in the business of manufacturing and trading of pre-recorded music in cassettes and compact disc. etc - Finance Act (No.2) 1998 w.e.f 1.4.99 section 32(1) has been amended and the amended provisions provide that in respect of copyright owned and used by the assessee for the purpose of business, the assessee would e entitled to claim depreciation - CIT(A) did not entertain the breakup given by the assessee before him on the ground that no explanation has been filed by the assessee to explain as to what presume the assessee from filing the same before the AO - Held that: Assessing Officer shall decide the issue in accordance with law after giving reasonable opportunity of being heard to the assessee - Appeal is allowed for statistical purpose
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