https://www.taxtmi.com/caselaws?id=192378 The ITAT allowed the appeal, reversing the FAA's decision, recognizing the income as royalty over six assessment years. The ITAT determined the payment under the TV serial agreement as royalty, not sale consideration, applying Accounting Standard-9 for income recognition. It rectified the double taxation issue, concluding in favor of the assessee due to the nature of the payment and the deferred recognition of income. en-us Fri, 06 Jan 2017 00:00:00 +0530 Sat, 27 May 2017 12:55:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192378 The ITAT allowed the appeal, reversing the FAA's decision, recognizing the income as royalty over six assessment years. The ITAT determined the payment under the TV serial agreement as royalty, not sale consideration, applying Accounting Standard-9 for income recognition. It rectified the double taxation issue, concluding in favor of the assessee due to the nature of the payment and the deferred recognition of income. Case-Laws Income Tax Fri, 06 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192378