2021 (3) TMI 317

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.... 15.02.2019 for the Assessment Year 2012-13. 2. There is a delay of 4 (four) days in filing of the appeal. The Revenue has filed a petition for condonation. After perusing the same, we are convinced that the Revenue was prevented by sufficient cause from filing of the appeal in time. Hence, we condone the delay and admit the appeal of the Revenue. 3. The assessee is a company and is a Producer of video programme, Ad films and feature films. It filed its return of income on 29.09.2012 declaring total loss of Rs. 4,57,84,649/- for the AY 2012-13. The AO completed the assessment u/s 143(3) of the Act on 25.03.2015 after selection of this case for limited scrutiny, and determined the total income at Rs. 6,79,35,382/- inter alia making an ....

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....e done by the assessee. These stage-wise payments are as follows: "Rs. 0.95 crores on signing of the agreement for Pre Production of the film. Rs. 1.90 crores 3 weeks prior to start of the shoot of the film. Rs. 0.95 crores within 1 week of commencement of the shoot of the film. Rs. 0.95 crores after completion of 30 shooting days of the film. Rs. 1.90 crores after completion of 60 shooting days of the film. Rs. 0.95 crores on completion of the shooting production of the film. Rs. 0.95 crores on completion of the dubbing of the film. Rs. 0.95 crores on delivery of the 1st censor copy of the film." 5.2. On completion of the shooting production of the film, there was a....