https://www.taxtmi.com/caselaws?id=25427 The High Court held that Circular No. 92 dated September 18, 1972, was applicable to the assessment year 1973-74, overturning the Tribunal's decision in favor of the assessee. Emphasizing the importance of applying the circular in force during the assessment year, the Court ruled in favor of the Revenue, directing compliance with Circular No. 92 for deductions under the Income-tax Act. This decision underscores the significance of aligning circular applicability with the assessment year to maintain consistency in tax treatment and deductions related to film production costs. en-us Fri, 05 Jun 1987 00:00:00 +0530 Thu, 28 Jan 2010 15:27:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25427 The High Court held that Circular No. 92 dated September 18, 1972, was applicable to the assessment year 1973-74, overturning the Tribunal's decision in favor of the assessee. Emphasizing the importance of applying the circular in force during the assessment year, the Court ruled in favor of the Revenue, directing compliance with Circular No. 92 for deductions under the Income-tax Act. This decision underscores the significance of aligning circular applicability with the assessment year to maintain consistency in tax treatment and deductions related to film production costs. Case-Laws Income Tax Fri, 05 Jun 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25427