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2014 (3) TMI 720 - AT - Income TaxDisallowance u/s 40(a)(ia) of the Act – Non-deduction of tax u/s 194J of the Act – Whether the expenditure laid out or expended wholly or exclusively for purpose of business so as to allow the expenditure as a deduction - Held that:- The expenditure incurred by Manorama Films towards purchase of telugu picture remake rights of the Hindi Film ‘Lage Raho Munnabhai’, which was paid to M/s Vinod Chopra Films Pvt. Ltd. - The AO invoked the provisions of section 40(a)(ia) as expenditure is otherwise allowable as deduction while computing the income of the assessee - the AO did not carry out detailed enquiry regarding allowability of expenditure before invoking provisions of section 40(a)(ia) of the Act – thus, the matter is remitted back to the AO for fresh assessment – Decided in favour of Assessee.
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