Daily Archives: February 22, 2025

License fee should be treated as deferred revenue expenditure and amortized over the six-year license period : HIGH COURT Summary in Key Points: Issue: Should the license fee paid for acquiring music rights be treated as a prior period expense or amortized over the license period? Facts: The assessee-company acquired audio and audio-visual rights for… Read More »

 No Need for Final Registration: Provisional Registration Under Section 12A Deemed Regular Summary in Key Points: Issue: Was the assessee required to apply for final registration under Section 12A(1)(ac)(iii) after obtaining provisional registration under Section 12A(1)(ac)(i)? Facts: The assessee, already registered under Section 12A, applied for fresh registration under Section 12A(1)(ac)(i) due to amendments in… Read More »