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2020 (5) TMI 395 - AT - Income TaxNature of expenditure - Expenditure being contribution to Cricket Academy u/s 37 - Revenue or capital expenditure - AO took the view that under the agreement assessee had marketing rights with regard to the Academy players, related rights i.e. with regard to admission of players and also the right to sign contracts of the players from the Academy thus would be capital in nature - HELD THAT:- In respect of an identical payment made by the assessee under the very same agreement for establishing cricket Academy for assessment year 2010-11, the issue was considered by this Tribunal in [2018 (10) TMI 1163 - ITAT BANGALORE] the Tribunal held that expenditure in question was revenue expenditure and should be allowed as a deduction. - Decided in favour of assessee.
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