ACIT, CIRCLE-5(1), HYDERABAD vs. EENADU TELEVISION PRIVATE LIMITED, HYDERABAD

ITA 654/HYD/2023Status: DisposedITAT Hyderabad16 May 2025AY 2017-1873 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the issue of whether non-compete fees constitute an intangible asset eligible for depreciation requires further examination by the Assessing Officer. However, the valuation of non-compete fees, as directed by the Tribunal previously, is considered settled.

What were the facts?

The assessee claimed the cost of production of TV serials and programmes as revenue expenditure. The Assessing Officer disallowed this claim, treating it as capital expenditure and allowing depreciation instead. The CIT(A) allowed the claim as revenue expenditure, relying on previous ITAT decisions.

What were the issues?

Whether the cost of production of TV serials and programmes is revenue expenditure or capital expenditure eligible for depreciation, and whether non-compete fees are intangible assets subject to depreciation.

Which sections of the Income-tax Act were involved?

Section 32,Section 143(3)

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Cases cited in this judgment(3)Show list

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Income Tax Appellate Tribunal, HYDERABAD “A” BENCH: HYDERABAD

Before: SHRI VIJAY PAL RAO & SHRI MANJUNATHA G

Hearing: 18.03.2025Pronounced: 16.05.2025

PER MANJUNATHA G. :

The above three appeals ITA.Nos.654 & 665/ Hyd./2023 & ITA.No.648/Hyd./2024 are filed by the Revenue against the respective orders dated 13.10.2023 and 10.04.2024, of the learned CIT(A)-National Faceless Appeal Centre [in short the “NFAC”], Delhi, relating to the assessment years 2017-2018, 2018-2019 & 2020-2021, respectively and the assessee has filed it's cross-appeal ITA.No.563/Hyd./2024, a

The order continues below.

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