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Judgment
This appeal by the Revenue under Section 260A of the Income Tax Act, 1961 (''Act'') is directed against the impugned order dated 18th June 2015 passed by the Income Tax Appellate Tribunal (''ITAT'') in ITA No. 6347/Del/2013 for the Assessment Year (''AY'') 2008-09.
By the impugned order, the ITAT affirmed the order of the Commissioner of Income Tax (Appeals) [''CIT (A)''] deleting the addition of advertisement and publicity expenses amounting to Rs. 3,23,59,212 capitalized by the Assessing Officer (''AO'') by treating it as a capital expenditure.
Learned counsel for the Revenue urged that the expenditure was in the nature of capital expenditure as it formed a part of total expenditure of Rs. 50 crores related to an agreement dated 25th January 2008 entered into between the Assessee and M/s. Bennett Coleman and Co. Ltd. It is submitted that inasmuch as it gave the Assessee a right over advertisement space for a period of five years, the benefit was of an enduring nature.
The ITAT has, in the impugned order, concurred with the CIT (A) that although the above expense was treated by the Assessee in its books as deferred revenue expenditure, it was nevertheless a revenue expenditure and allowable as such. The Court is unable to find any legal error in the above reasoning of the CIT (A) which had been concurred with by the ITAT.
No substantial question of law arises for determination. The appeal is dismissed.