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2014 (1) TMI 1929 - ITAT HYDERABADDifference in collections of movie - income from film distribution - As argued assessee had received only Rs.1.40 crores as per Memorandum of Understanding and over & above collections of Rs.1.40 crores belongs to the distributors and therefore the Assessing Officer is not justified to make the entire collection in the hands of the assessee - HELD THAT:- The claim of the assessee is that the share of the assessee was at Rs. 1.40 crores and others is relating to the share of Vaishnavi Academy of Rs.4,42,75,200/- and also there was an expenditure in the nature of commission, advertisement. But, however, there is no evidence furnished regarding these facts. In our opinion, it is appropriate to examine the entire issue by AO and decide the issue in accordance with law. We make it clear that the agreement produced by the assessee is self-serving document and it cannot be acted upon as the assessee categorically stated before the AO that there was no agreement. Accordingly, this issue is remitted back to AO for fresh consideration. Disallowance made towards expenditure not met by the assessee - contention of the assessee is that the amount of Rs.38 lakhs is incurred by two other parties namely Sri Venkateswara Films Rs. 5 lakhs and SS Communications Rs. 33 lakhs which was paid to Prasad Laboratories on behalf of assessee and according to the assessee the same to be allowed - HELD THAT:- If these payments are not claimed as expenditure in the hands of these two parties, then it is natural to allow the claim of the assessee. Being so, it is appropriate to examine the issue in detail accordingly.
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