https://www.taxtmi.com/caselaws?id=358748 The ITAT partly allowed the assessee's appeal by directing the AO to reconsider the disallowance of depreciation on non-compete fee and treating the cost of production of TV serials and programs as revenue expenditure. The ITAT also instructed the AO to expeditiously consider the application for credit of TDS. The Revenue's appeal against the direction to allow depreciation on the film software library at 25% was dismissed, upholding the treatment of the software library as an intangible asset subject to revaluation. en-us Wed, 09 Aug 2017 00:00:00 +0530 Wed, 18 Apr 2018 06:26:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358748 The ITAT partly allowed the assessee's appeal by directing the AO to reconsider the disallowance of depreciation on non-compete fee and treating the cost of production of TV serials and programs as revenue expenditure. The ITAT also instructed the AO to expeditiously consider the application for credit of TDS. The Revenue's appeal against the direction to allow depreciation on the film software library at 25% was dismissed, upholding the treatment of the software library as an intangible asset subject to revaluation. Case-Laws Income Tax Wed, 09 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358748