{"id":4948,"date":"2019-04-18T12:37:44","date_gmt":"2019-04-18T12:37:44","guid":{"rendered":"http:\/\/itatonline.org\/digest\/acit-v-zee-media-corporation-ltd-2018-193-ttj-36-uo-mum-trib\/"},"modified":"2019-04-18T12:37:44","modified_gmt":"2019-04-18T12:37:44","slug":"acit-v-zee-media-corporation-ltd-2018-193-ttj-36-uo-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-zee-media-corporation-ltd-2018-193-ttj-36-uo-mum-trib\/","title":{"rendered":"ACIT v. Zee Media Corporation Ltd ( 2018) 193 TTJ 36 (UO) (Mum.) (Trib.)"},"content":{"rendered":"<p>Assessee amortized the \u201cinventories\u201d as per the method of accounting consistently followed by him over the years. AO made on account of expenditure in respect of programs and film rights by treating purchase cost of programs and film rights as intangible assets and allowing deprecation @25%. CIT(A) deleted addition. Dismissing the appeal of the revenue the Tribunal held that assessee amortized \u201cinventories\u201d as per method of accounting consistently followed by him over years. Appeal of revenue was dismissed. (AY.2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure\u2014Purchase cost of programs and film rights\u2014Amortisation of inventories\u2013Consistent method of accounting\u2013AO is not justified in treating programs and film rights as intangible assets and allowing deprecation @ 25%.  [S. 32(2)(ii)]<\/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-4948","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1hO","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4948","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=4948"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4948\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}