Case Law Details
Case Name : M/s. AVM Film Studios Vs ITO (ITAT Chennai)
Related Assessment Year :
Courts :
All ITAT ITAT Chennai
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Brief of the case: The ITAT Chennai in the case of M/s AVM Films Studios held that entire lease rental received in first year of assignment of film rights with a condition that the same is not refundable in any circumstances is taxable in that year itself and cannot be spread over the period of lease.
Facts of the case:
The assessee is engaged in the business of production of feature films, serials, running and maintaining film studios.
During the course of assessment proceedings , AO noted that assessee received an amount of Rs. 2,65,28,535/- on account of transfer of lease rights of films e...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
Author Bio
i am truely inspired by what you have written