Friday, 11 December 2015

Sum paid by producer to exhibitors of flop movie could be held as revenue exp. on grounds of commerc

IT: Where on one hand Tribunal held that amount paid by assessee, a production company, to exhibitors of its films, for loss incurred by them, was capital in nature and on other hand held that it was compensation paid to stay afloat in business, since Tribunal was giving two divergent views, matter was to be readjudicated

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