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2011 (4) TMI 794 - AT - Income TaxLoss on account of write off of the cost of production of the TV serial "Raja Bhartuhari" - It is required to ascertain whether the assessee had totally abandoned his film production business or he was still continuing the same - Held that:- Since, the assessee has filed its Profit and Loss Account and Balance Sheet for several years starting from the year ended 31-3-1995, from which find that in the year ended 31-3-2005 the assessee has produced and sold a TV serial called "Ek Aur Amar Premm" - As the accounts for the year ended 31-3-2005 show the assessee did disclose business receipts of Rs. 25,21,000 in respect of Ek Aur Amar Premm - For the same year he has also disclosed distributorship receipts in respect of the film "Mughal-E-Azam (Colour)" to the extent of Rs. 18,49,375 - Therefore, the claim of loss on account of write off of the cost of production of the TV serial "Raja Bhartuhari" cannot be defeated even on the ground that the assessee has stopped carrying on the business of production/distribution of films - Decided in favour of assessee.
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