https://www.taxtmi.com/caselaws?id=38965 Where a business consists of a solitary, indivisible venture, the profit or loss must be determined on completion of that venture, and the entire production expenditure is relevant to the year in which the commercial result is ascertainable. The court held that expenditure for producing one film could not be split into separate heads or artificially allocated to an earlier year, because the result of the venture became known only when the picture was completed and released. The distinction between establishment and production expenses was held to be artificial on these facts, and the deduction was allowed in favour of the assessee. en-us Wed, 13 Aug 1975 00:00:00 +0530 Sat, 10 Apr 2010 16:03:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38965 Where a business consists of a solitary, indivisible venture, the profit or loss must be determined on completion of that venture, and the entire production expenditure is relevant to the year in which the commercial result is ascertainable. The court held that expenditure for producing one film could not be split into separate heads or artificially allocated to an earlier year, because the result of the venture became known only when the picture was completed and released. The distinction between establishment and production expenses was held to be artificial on these facts, and the deduction was allowed in favour of the assessee. Case-Laws Income Tax Wed, 13 Aug 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38965