https://www.taxtmi.com/circulars?id=10113 Short films produced for advertisement are not stock in trade but publicity material; their production cost is current business expenditure and is allowable as a deduction under the Income tax Act subject to the limits and conditions prescribed in the Income tax Rules. en-us Mon, 15 Oct 1973 00:00:00 +0530 Fri, 17 Jun 2011 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10113 Short films produced for advertisement are not stock in trade but publicity material; their production cost is current business expenditure and is allowable as a deduction under the Income tax Act subject to the limits and conditions prescribed in the Income tax Rules. Circulars Income Tax Mon, 15 Oct 1973 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10113