https://www.taxtmi.com/caselaws?id=171869 Cost of positive film prints that are demonstrably short-lived and exhausted within the accounting year may be treated as revenue expenditure and written off where the assessee's consistent accounting practice fairly reflects true profits; accordingly the full claim for positives on the facts was allowed. Retainer payments to legal advisers are deductible only to the extent they accrued in the accounting year; part of the disputed payment related to prior periods or duplication and was disallowed, with a specified portion allowed as deduction. The proviso to the relevant tax provision was not attracted on these facts. en-us Mon, 03 Dec 1962 00:00:00 +0530 Fri, 07 Aug 2015 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171869 Cost of positive film prints that are demonstrably short-lived and exhausted within the accounting year may be treated as revenue expenditure and written off where the assessee's consistent accounting practice fairly reflects true profits; accordingly the full claim for positives on the facts was allowed. Retainer payments to legal advisers are deductible only to the extent they accrued in the accounting year; part of the disputed payment related to prior periods or duplication and was disallowed, with a specified portion allowed as deduction. The proviso to the relevant tax provision was not attracted on these facts. Case-Laws Income Tax Mon, 03 Dec 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171869