Assessee was a trade association trust of advertising agencies. It held fest in Goa every year in which it invited eminent speakers from international advertising agencies as well as from Indian media. Surplus generated out of ‘Goa Fest’ was accumulated and set apart. Same was invested as per modes/forms specified in section 11(5), i.e., deposited […]
Exp. incurred by Dharma Productions on publicity of film after getting censor board certification allowed u/s 37.
Assessee-Dharma Productions (P.) Ltd was engaged in production and distribution of feature films. It claimed expenditure incurred for positive prints of feature film and further expenditure on account of advertisement. Assessing Officer (AO) noticed that those expenditures were incurred by the assessee after issuance of certificate of Censor Board. He disallowed the claim holding that […]