S. 80IB Each new project for a new film cannot be considered as split up or reconstruction of existing business

DCIT Vs Shri K.T. Kunjumon (ITAT Chennai)

Conclusion: Assessee-producer having film production unit entitled for income tax deduction under section 80IB as assessee was running a production house and each new project for a new film, could not be considered as split up or reconstruction of the business already in existence.

Held: AO held that assessee was producing movies since Nineteen Eighties and production of a new movie, though it could be construed as a new project was nothing but splitting up or reconstruction o

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