https://www.taxtmi.com/caselaws?id=240516 The Tribunal allowed the appeal, setting aside the Commissioner's order under section 263 of the Income-tax Act. It held that the expenditure on acquiring audio copyrights and CD/DVD rights was revenue in nature, not capital. The Tribunal found the assessment order valid, as the Assessing Officer's treatment of the expenditure as revenue was appropriate. The decision was based on established precedents and the principle that an order is not prejudicial if within legal bounds. The appeal was granted, restoring the Assessing Officer's order and rejecting the Commissioner's jurisdiction under section 263. en-us Fri, 30 Mar 2012 00:00:00 +0530 Fri, 06 Dec 2013 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240516 The Tribunal allowed the appeal, setting aside the Commissioner's order under section 263 of the Income-tax Act. It held that the expenditure on acquiring audio copyrights and CD/DVD rights was revenue in nature, not capital. The Tribunal found the assessment order valid, as the Assessing Officer's treatment of the expenditure as revenue was appropriate. The decision was based on established precedents and the principle that an order is not prejudicial if within legal bounds. The appeal was granted, restoring the Assessing Officer's order and rejecting the Commissioner's jurisdiction under section 263. Case-Laws Income Tax Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240516