https://www.taxtmi.com/highlights?id=94804 The Central Board of Direct Taxes issues a corrigendum to its letter dated 21.10.2025 concerning the C&AG Performance Audit Report No. 1 of 2019 on assessment of assessees in the entertainment sector, specifically regarding verification of expenses. The corrigendum clarifies that paragraph 2.1 of the earlier letter incorrectly referred to section 32D of the Income-tax Act, 1961, and should instead refer to section 35D. It instructs that pre-operative expenses incurred before commencement of business by entertainment sector assessees be examined with reference to actual commencement and allowed for amortisation under section 35D. The correction is issued with competent authority approval. en-us Fri, 05 Dec 2025 19:10:36 +0530 Fri, 05 Dec 2025 19:10:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=94804 The Central Board of Direct Taxes issues a corrigendum to its letter dated 21.10.2025 concerning the C&AG Performance Audit Report No. 1 of 2019 on assessment of assessees in the entertainment sector, specifically regarding verification of expenses. The corrigendum clarifies that paragraph 2.1 of the earlier letter incorrectly referred to section 32D of the Income-tax Act, 1961, and should instead refer to section 35D. It instructs that pre-operative expenses incurred before commencement of business by entertainment sector assessees be examined with reference to actual commencement and allowed for amortisation under section 35D. The correction is issued with competent authority approval. Highlights Income Tax Fri, 05 Dec 2025 19:10:36 +0530 https://www.taxtmi.com/highlights?id=94804