https://www.taxtmi.com/caselaws?id=247661 The High Court ruled in favor of the assessee, holding that the expenditure incurred on the production of programmes for news archives should be treated as revenue expenditure rather than a capital asset under Section 37 of the Income Tax Act, 1961. The court emphasized that the news archives were not akin to plant or income-generating apparatus but part of the product, and the estimated value assigned to the news archives did not qualify as capital expenditure. The court dismissed the revenue's appeal, stating that the potential future revenue from the news archives did not justify their inclusion in the capital stream. en-us Tue, 29 Apr 2014 00:00:00 +0530 Sat, 21 Feb 2015 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247661 The High Court ruled in favor of the assessee, holding that the expenditure incurred on the production of programmes for news archives should be treated as revenue expenditure rather than a capital asset under Section 37 of the Income Tax Act, 1961. The court emphasized that the news archives were not akin to plant or income-generating apparatus but part of the product, and the estimated value assigned to the news archives did not qualify as capital expenditure. The court dismissed the revenue's appeal, stating that the potential future revenue from the news archives did not justify their inclusion in the capital stream. Case-Laws Income Tax Tue, 29 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247661