Certificates of payments for three years from the person who had acquired the exploitation rights of the film must be obtained by the I.T. Officer so as to enable them to verify the correctness of the receipts disclosed. - Income Tax - 455/CBDT

INSTRUCTION NO. 455/CBDT Dated: September 18, 1972 Section(s) Referred: 143(3) Statute: Income - Tax Act, 1961 Attention is invited to Board's Circular No,. 92 of even date on the above subject. 2. In order to ensure that the full receipts are accounted for and the total amortisation allowed does not exceed the cost of production, the details in the chart printed below must invariably be maintained for each film separately. No case of film producer or distributor should be disposed of without completing this chart. (a) Certificates of payments for three years from the person who had acquired the exploitation rights of the film must be obtained by the I.T. Officer so as to enable them to verify the correctness of the receipts disclosed. It should be the responsibility of the Inspecting Asst. Commissioner to ensure that these instructions are being followed by the I.T. Officers strictly.