Court Rules Film Software Library as Intangible Asset, Eligible for 25% Depreciation Rate Instead of 15% for Plant & Machinery.

Disallowance of depreciation - Addition towards Film Software Library as the same is not intangible asset and it is to be treated as Plant & Machinery - depreciation @ 15% or 25% - asset which consists of ‘Copyrighted Films and Programmes’ is an ‘Intangible Asset’ eligible for depreciation at the rate of 25% - AT .....

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