{"id":4782,"date":"2019-04-08T10:36:33","date_gmt":"2019-04-08T10:36:33","guid":{"rendered":"http:\/\/itatonline.org\/digest\/knight-riders-sports-pvt-ltd-v-acit-2017-51-cch-591-2018-193-ttj-313-mum-trib\/"},"modified":"2019-04-08T10:36:33","modified_gmt":"2019-04-08T10:36:33","slug":"knight-riders-sports-pvt-ltd-v-acit-2017-51-cch-591-2018-193-ttj-313-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/knight-riders-sports-pvt-ltd-v-acit-2017-51-cch-591-2018-193-ttj-313-mum-trib\/","title":{"rendered":"Knight Riders Sports Pvt. Ltd. v. ACIT (2017) 51 CCH 591 \/ (2018) 193 TTJ 313  (Mum.)(Trib.)"},"content":{"rendered":"<p>Franchise fee would be in the nature of revenue expenditure where payment of Franchise fee facilitated participation in league and operating team is restricted only to year to which payment pertained, and there is neither creation of asset or generation of benefit of enduring nature in hands of assessee. When no match of IPL Season-2 was played till 31.03.2009, no expenditure in respect of Franchise fee accrued at all during\u00a0 year under consideration\u2014Thus, it could\u00a0 not be held as\u00a0 revenue expenditure in hands of assessee during year under consideration<strong>. <\/strong>(AY.2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure\u2013Capital or revenue-Franchise fee- For participation  in league\u2013Held to be revenue expenditure- When no match of IPL Season-2 was played till 31.03.2009, no expenditure in respect of Franchise fee accrued at all during  year under consideration\u2014Thus, it could  not be held as  revenue expenditure in hands of assessee during year under consideration [S. 145]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4782","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1f8","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=4782"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4782\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}