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TMI Blog2018 (4) TMI 1554X X X X Extracts X X X X X X X X Extracts X X X X ..... re? - Held that:- The issue has to be decided as per the Circular issued by the Central Board of Direct Taxes in Circular No.16/2015 dated 06.10.2015, wherein it is stated that the cost of production of an abandoned feature film is to be treated as revenue expenditure and allowed as per the provisions of Section 37 of the Income Tax Act. This circular was taken note of by the Division Bench of thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cted against the order passed by the Income Tax Appellate Tribunal in ITA No.2215/Mds/2006 dated 07.12.2007 relating to the Assessment year 2002-03. 3.This Tax Case Appeal has been admitted on the following substantial question of law: 1.Whether in the facts and circumstances of the case, the Tribunal was right in holding that the write off of expenditure incurred in respect of a teleser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2016) 95 CCH 0024 ChenHC . Though the circular pertains to a feature film, we find that there cannot be any distinction between tele-serial and feature film as the circular deals with the aspect regarding to the cost of production of a film. Hence, Circular No.16/2015 dated 06.10.2015 has full application to the facts of the present case. Thus, for the above reasons, appeal filed by the Revenu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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