2006 (6) TMI 113 - HC - Income Tax

Whether licences for exhibition/broadcasting rights of cinematographic films is export of merchandise/goods, therefore, eligible for deduction under section 80HHC - Held Yes.

Summary

The Bombay High Court judgment on Income-tax Appeal cases clarified the interpretation of section 80HHC on export of overseas exhibition/broadcasting rights of cinematographic films. The court ruled in favor of the assessee, stating that licenses for exhibition/broadcasting rights of films are eligible for deduction under section 80HHC. The decision was based on the precedent set in the case of Abdulgafar A. Nadiadwala v. Asst. CIT [2004] 267 ITR 488.