TMI Blog2012 (9) TMI 1062X X X X Extracts X X X X X X X X Extracts X X X X ..... of Ld. CIT(A)-3, Mumbai for the assessment year 2005- 06. The grounds of appeal read as under: 1) On the facts and in the circumstances in the case and in law, the Li CIT(A)-3, Mumbai has erred in holding that the cost of abandoned film written off is revenue expenditure even though a film is a capital asset as held by the Hon ble Bombay High Court in Sadichha Chitra vs CIT (189 ITR 774). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Hon ble High Court in the case of that assessee. Accordingly he has added a sum of ₹ 1,07,46,228/- to the income earlier assessed. Ld. CIT(A) has deleted the said addition following the various decisions of Tribunal on the issue in which it has been held that cost of abandoned films is allowable as a revenue expenditure. Ld. CIT(A) has also referred to the decision of Hon ble Supreme Court ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t order has been placed on our record and was also given to the Ld. D.R. Ld. A.R has also referred to the second decision of Hon ble Jurisidictional High Court in the case of Dream Merchant Enterprises, decision dated 20/9/2011 in ITA Nos. 4343 4252 of 2010, wherein similar proposition has been laid down. Therefore, he pleaded that the issue is covered in favour of the assessee not only by vario ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see s own case for assessment year 1993-94. Counsel for the revenue states that he has been informed by the concerned officer that no appeal has been filed by the revenue against the decision of the ITAT in the assessee s own case for assessment year 1993-94. No fault in the decision of the ITAT relating to assessment year 1993-94 is pointed out. In this view of the matter, no fault can be found w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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