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Computer peripherals entitled to depreciation at 60% and advertisement, ad film and website expenses are revenue in nature
Case Law Details
- Case Name
- CIT Vs Bonanza Portfolio Ltd. (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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CIT Vs Bonanza Portfolio Ltd. (Delhi High Court )
Decided on: 10 August 2011.
Appeal No. ITA 833/2011
The expenditure was incurred by the assessee on ad films in respect of an ongoing business and there was no enduring benefit on the same. Hence, it was asses-sable as revenue expenditure, An expenditure incurred on advertisements and websites for sales promotion is revenue in nature. Computer peripherals are entitled to depreciation at 60%.
In the assessment proceedings carried out by the Assessing Officer, he disallowed the expenses on advertisement holding the same was to be amortised over...
