mntheerdesh :
Thanks for the info.Can you explain the second one in brief i.e the A/Vreceiver alone can do the decoding or it needs an extra bluray player?
I don't think that you got great information here.
It seems that you have a USB drive connected directly to your HT-IV300, which processes the audio itself, and passes the picture to your TV. From the Sony web site for your HT system...
Dolby® TrueHD for sound as the director intended
Enjoy peerless audio quality with Dolby® TrueHD, which delivers lossless sound across movies and music. By reproducing sound identical to original studio masters, it offers unparalleled audio fidelity for Blu-ray Discs™ and downloaded content.
As they state that it will work for downloaded content, it seems that there
should be no need for the TrueHD content to come through from a separate player over HDMI. However, I'm experiencing a similar challenge with my Sony blu-ray player, which won't play TrueHD content from a file on a connected USB drive. It passes DTS MA 7.1 sound to the amp no problem, and I suspect would work if the Dolby TrueHD content was on a disc.
So perhaps the answer is: No.
Have you learned anything more since you posted this back in January?