https://www.taxtmi.com/caselaws?id=185515 Advance paid for purchase of a film script for an abandoned film was treated as allowable revenue expenditure because the cost of an abandoned film written off is revenue in nature. Rule 9A of the Income-tax Rules, 1962 was held inapplicable to abandoned feature films, and the related expenditure was not to be treated as capital expenditure. The write-off was therefore allowed under the Act in line with the binding Bombay High Court ruling in Venus Records and Tapes Pvt. Ltd. and CBDT Circular No. 16/2015 accepting that position. en-us Fri, 15 Jan 2016 00:00:00 +0530 Wed, 17 Aug 2016 08:44:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185515 Advance paid for purchase of a film script for an abandoned film was treated as allowable revenue expenditure because the cost of an abandoned film written off is revenue in nature. Rule 9A of the Income-tax Rules, 1962 was held inapplicable to abandoned feature films, and the related expenditure was not to be treated as capital expenditure. The write-off was therefore allowed under the Act in line with the binding Bombay High Court ruling in Venus Records and Tapes Pvt. Ltd. and CBDT Circular No. 16/2015 accepting that position. Case-Laws Income Tax Fri, 15 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185515