https://www.taxtmi.com/caselaws?id=377250 The High Court dismissed the appeals filed by the Revenue, affirming the Tribunal's decision to allow expenditures on positive prints and advertisement expenses as deductions under Section 37 of the Income Tax Act. The Court clarified that while Rule 9A excludes these costs from the "cost of production," they can still be considered legitimate business expenses under Section 37. The judgment emphasizes the distinction between the two provisions and provides clarity on the treatment of such costs in the film production industry. en-us Tue, 19 Mar 2019 00:00:00 +0530 Tue, 26 Mar 2019 06:40:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377250 The High Court dismissed the appeals filed by the Revenue, affirming the Tribunal's decision to allow expenditures on positive prints and advertisement expenses as deductions under Section 37 of the Income Tax Act. The Court clarified that while Rule 9A excludes these costs from the "cost of production," they can still be considered legitimate business expenses under Section 37. The judgment emphasizes the distinction between the two provisions and provides clarity on the treatment of such costs in the film production industry. Case-Laws Income Tax Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377250