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2016 (1) TMI 1369 - HC - Income TaxClaim for deduction of "Film Production Expenses"- allowable busniss expenses - Held that:- Matter is remitted back to the file of the Assessing Officer, to verify as to whether the assessee / appellant herein had claimed "Film Production Expenses", as Revenue Expenditure, during the assessment year 2001-2002, or in any of the previous or subsequent years, as per the Circular No.16/2015, issued by the Central Board of Direct Taxes in F.No.279/Misc./140/2015-ITJ, dated 06.10.2015. If no such claim had been made by the Assessee, the claim of the assessee, with regard to the "Film Production Expenses", as Revenue expenditure, for the assessment year 2001-2002, may be allowed. The Assessee, in addition to the records available before the Assessing Officer, shall also file an affidavit stating that it had made no such claim for any of the previous or subsequent years.
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