https://www.taxtmi.com/caselaws?id=469572 Franchise rights acquired under a team-league arrangement were treated as intangible assets, and the fixed franchise consideration was the relevant actual cost under section 43(1). Staggered annual instalments and the league deposit did not change that cost merely because payment was deferred, so depreciation was allowable on the entire franchise fee rather than only on the amount paid during the year. The actual cost could, however, be adjusted in later years if subsequent events reduced or enhanced the liability. en-us Fri, 31 Oct 2025 00:00:00 +0530 Mon, 22 Jun 2026 19:00:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469572 Franchise rights acquired under a team-league arrangement were treated as intangible assets, and the fixed franchise consideration was the relevant actual cost under section 43(1). Staggered annual instalments and the league deposit did not change that cost merely because payment was deferred, so depreciation was allowable on the entire franchise fee rather than only on the amount paid during the year. The actual cost could, however, be adjusted in later years if subsequent events reduced or enhanced the liability. Case-Laws Income Tax Fri, 31 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469572