Court Rejects Applying Section 32(ii) for TV Programs, Film Rights; Stresses Consistent Accounting, No AS-26 Precedents.

Court Rejects Applying Section 32(ii) for TV Programs, Film Rights; Stresses Consistent Accounting, No AS-26 Precedents. https://www.taxtmi.com/highlights?id=24265 Purchases of the TV Programs/Film rights - Assessee amortised the "inventories‟ as per the method of accounting consistently followed by him over the years - the argument towards applicability of the AS-26 to the TV Programs and Film rights is not supported by any precedents - AO's proposal to invoke the provisions of section 32(ii) rejected - AT en-us Tue, 18 Aug 2015 10:07:44 +0530 Tue, 18 Aug 2015 10:07:44 +0530 TaxTMI RSS Generator Court Rejects Applying Section 32(ii) for TV Programs, Film Rights; Stresses Consistent Accounting, No AS-26 Precedents. https://www.taxtmi.com/highlights?id=24265 Purchases of the TV Programs/Film rights - Assessee amortised the "inventories‟ as per the method of accounting consistently followed by him over the years - the argument towards applicability of the AS-26 to the TV Programs and Film rights is not supported by any precedents - AO's proposal to invoke the provisions of section 32(ii) rejected - AT Highlights Income Tax Tue, 18 Aug 2015 10:07:44 +0530 https://www.taxtmi.com/highlights?id=24265