https://www.taxtmi.com/caselaws?id=19383 The High Court held that subsequent modifications to the circular of October 4, 1969, did not affect the assessee's entitlement to write off the entire cost of acquiring distribution rights for films in the year of release. Circulars conferring rights on assessees are binding and cannot be modified to the detriment of the assessee during assessment proceedings. The Income-tax Officer's refusal to allow the deduction based on the circular was deemed unjustified, and the Tribunal's decision was overturned in favor of the assessee. en-us Wed, 23 Nov 1994 00:00:00 +0530 Thu, 05 Nov 2009 17:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19383 The High Court held that subsequent modifications to the circular of October 4, 1969, did not affect the assessee's entitlement to write off the entire cost of acquiring distribution rights for films in the year of release. Circulars conferring rights on assessees are binding and cannot be modified to the detriment of the assessee during assessment proceedings. The Income-tax Officer's refusal to allow the deduction based on the circular was deemed unjustified, and the Tribunal's decision was overturned in favor of the assessee. Case-Laws Income Tax Wed, 23 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19383