https://www.taxtmi.com/caselaws?id=240159 The tribunal upheld the CIT's decision that interest on loans for film production should be considered part of the cost of production under Rule 9A, even if the films were not released during the assessment year. The tribunal found the AO's assessment to be erroneous and prejudicial to the revenue's interest, emphasizing the mandatory application of Rule 9A for computing income from film production. The appeal by the assessee was dismissed, and the tribunal directed the AO to reassess the interest as part of the cost of production in accordance with Rule 9A. en-us Wed, 10 Apr 2013 00:00:00 +0530 Fri, 06 Sep 2013 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240159 The tribunal upheld the CIT's decision that interest on loans for film production should be considered part of the cost of production under Rule 9A, even if the films were not released during the assessment year. The tribunal found the AO's assessment to be erroneous and prejudicial to the revenue's interest, emphasizing the mandatory application of Rule 9A for computing income from film production. The appeal by the assessee was dismissed, and the tribunal directed the AO to reassess the interest as part of the cost of production in accordance with Rule 9A. Case-Laws Income Tax Wed, 10 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240159