https://www.taxtmi.com/caselaws?id=179224 Expenditure written off on an abandoned film project was held allowable as a deduction, following earlier coordinate bench decisions that treated expenditure on abandoned film production as deductible and recognised films in the hands of a film producer as stock-in-trade. The Tribunal rejected the Revenue's objection that a pending appeal against one earlier order was sufficient to deny the claim, holding that consistent jurisdictional Tribunal rulings supported allowance of the write-off. The Assessing Officer's disallowance was therefore deleted and the issue was decided in favour of the assessee. en-us Thu, 30 Sep 2010 00:00:00 +0530 Tue, 23 Feb 2016 13:22:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179224 Expenditure written off on an abandoned film project was held allowable as a deduction, following earlier coordinate bench decisions that treated expenditure on abandoned film production as deductible and recognised films in the hands of a film producer as stock-in-trade. The Tribunal rejected the Revenue's objection that a pending appeal against one earlier order was sufficient to deny the claim, holding that consistent jurisdictional Tribunal rulings supported allowance of the write-off. The Assessing Officer's disallowance was therefore deleted and the issue was decided in favour of the assessee. Case-Laws Income Tax Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179224