Entry and Variable Annual Licence Fees Paid to Telecom Department is Capital in Nature, Amortisation Permitted u/s 35ABB of Income Tax Act: Supreme Court [Read Order]

Entry - Variable Annual Licence Fees Paid - Telecom Department - Capital in Nature-Amortisation Permitted - Income Tax Act-Supreme Court-TAXSCAN

In a significant Supreme Court ruling, the bench of Justice B. V. Nagarathna and Justice Ujjal Bhuyan declared that the entry and variable annual licence fees paid to the Department of Telecom (DoT) under the New Telecom Policy of 1999 are considered capital expenses and can be amortised in line with Section 35ABB of the…

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