Case Law Details
Case Name : M/s. AVM Film Studios Vs ITO (ITAT Chennai)
Related Assessment Year :
Courts :
All ITAT ITAT Chennai
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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
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