Exp. incurred on prints of film is allowable as revenue exp

[2015] 56 taxmann.com 432 (Hyderabad - Trib.)

IN THE ITAT HYDERABAD BENCH 'B'

Teja Cinema

v.

Deputy Commissioner of Income-tax

Section 37(1) of the Income-tax Act, 1961, read with rule 9A of the Income-tax Rules, 1962 - Business expenditure - Allowability of (Film producer) - Assessment year 2008-09 - Whether expenditure incurred in preparation of positive prints and advertisement for purpose of production of film was allowable as business expenditure under section 37(1) - Held, yes [Para 10][In favour of assessee]