Amortisation of patent and copyright expenditure requires amending the year of allowance before disallowing it in later years. Deduction for capital expenditure on patent and copyright acquisition is allowed as amortisation over fourteen years or the unexpired life. If such amortisation appears to have been erroneously allowed, officers must not disallow it in a later year until proceedings to modify the year of allowance are initiated by appropriate rectification, revision or reopening procedures; if modification of the year of allowance is not possible, adjustments may be made in subsequent years' assessments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Amortisation of patent and copyright expenditure requires amending the year of allowance before disallowing it in later years.
Deduction for capital expenditure on patent and copyright acquisition is allowed as amortisation over fourteen years or the unexpired life. If such amortisation appears to have been erroneously allowed, officers must not disallow it in a later year until proceedings to modify the year of allowance are initiated by appropriate rectification, revision or reopening procedures; if modification of the year of allowance is not possible, adjustments may be made in subsequent years' assessments.
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