Rule 9B : Cost of prints cannot be clubbed with cost of acquisition of distribution rights of films for carried forward of unabsorbed cost

Brief of the Case Delhi High Court held In the case of Honey Enterprises. vs. CIT that the Assessee has sought to club the two expenses, that is, the cost of acquisition of distribution rights of films and the cost of prints for the purposes of charging the same against realizations from those films and for carrying forward the excess to the next year for the purposes of Rule 9B of the Rules. However, this is not permissible in terms of the explanation to Rule 9B (1) of the Income Tax Rules. In our view, the plain language of Rule 9B(3) of the Rules is unambiguous and the expression “amount...