https://www.taxtmi.com/caselaws?id=286725 The Tribunal determined that the annual franchise fee paid to BCCI for IPL participation was revenue expenditure, not capital expenditure. The fee was directly related to earning income each year and necessary for the assessee's participation in the league. The Tribunal referenced a similar case to support its decision. Consequently, the assessee's appeals were allowed, and the AO was directed to treat the franchise fee as revenue expenditure. The alternative claim for depreciation on the cost of intangible assets was not addressed as the primary issue was resolved in favor of the assessee. en-us Fri, 22 Jul 2016 00:00:00 +0530 Fri, 13 Mar 2020 10:14:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286725 The Tribunal determined that the annual franchise fee paid to BCCI for IPL participation was revenue expenditure, not capital expenditure. The fee was directly related to earning income each year and necessary for the assessee's participation in the league. The Tribunal referenced a similar case to support its decision. Consequently, the assessee's appeals were allowed, and the AO was directed to treat the franchise fee as revenue expenditure. The alternative claim for depreciation on the cost of intangible assets was not addressed as the primary issue was resolved in favor of the assessee. Case-Laws Income Tax Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286725