Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2002)82ITD641(Mum.)
..... thus, the same went in the cost of production and varied with the quantity of cassette production.even though the licence had been given for duration of the copyright, the manufacture and sale of cassettes would depend upon the popularity of the songs which, in the case of film songs may not last even a year.therefore, the recurring payment of royalty was uncertain and variable ..... according to him, the in-house master plate development are the master plates taken by way of assignment of copyrights are basically the smaller ingredients of input, i.e, raw material ..... considering the above facts, you will appreciate that amount spent for purchase of audio rights is rightly claimed as manufacturing expenses which though purchased and held in perpetuity is of the revenue nature hence the same is allowed as claimed under section 37(1) of it act. ..... the orders of the tribunal as available before them and expire jute mills case and alembic chemicals case (cited supra) also have been followed.since we have held that the cit(a) has not properly distinguished the tribunal orders, this finding also cannot be upheld ..... 1st april, 1999, because the expenditure on acquisition of copyright was to be allowed as a revenue expenditure it was withdrawn as a consequence of amendment to section 32 providing depreciation on intangible assets. ..... 1990-91, 1991-92, 1993-94 and 1995-96 ..... 1990-91, 1991-92, 1993-94 and 1995-96, the cit(a) has upheld the action of the ..... 1993-94 and raises the following grounds of appeal: .....
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