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

ITA 563/HYD/2024Status: DisposedITAT Hyderabad16 May 2025AY 2020-202173 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal held that the issue of whether non-compete fees are intangible assets and eligible for depreciation requires further examination by the Assessing Officer. However, the valuation of non-compete fees is settled, and the CIT(A)'s decision on this aspect is agreed with.

What were the facts?

The assessee claimed the cost of production of TV serials and programmes as revenue expenditure, while the AO treated it as capital expenditure and allowed depreciation. The assessee also claimed depreciation on a film software library, which the AO disallowed as excess.

What were the issues?

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

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

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 ass

The order continues below.

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