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2014 (5) TMI 626 - DELHI HIGH COURTAllowability of expenses u/s 37 of the Act – Production as a part of news achieve – Held that:- Following Commissioner of Income Tax Versus Director General of Income Tax [2014 (5) TMI 588 - DELHI HIGH COURT] - The data base of the programmes which are utilised for the creation of ‘news archives’ belonged to the assessee - The future likelihood of the resources being a possible source of revenue, it would not be justify to include it in the capital stream - the expenditure is a part of the entire total expenditure incurred by the assessee which is concededly treated as revenue – Decided against Revenue. Allowability of expenses incurred on CNBC expansion project – Revenue expenses OR capital expenses – Held that:- The findings of the CIT (A) and Tribunal are concurrent - no advantage of enduring nature has accrued to the assessee - On account of the expanded work and enhanced capacity, the assessee had incurred expenses towards the salaries of professionals and hire charges also towards media professional charges – the nature of the expenditure required it to be treated as one falling u/s 37(1) of the Act, compelled by business purposes and not resulting in any enduring advantage requiring to be treated in the capital stream – Decided against Revenue.
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