Deduction Denied for NLD License Surrender Expenses u/s 35ABB(2): Telecom Firm's Business Loss Not Deductible.

Disallowance of deduction u/s. 35ABB(2) - expenses on surrender of National Long Distance (NLD) license - the assessee was engaged in the business of providing telecom services and the losses incurred on account of surrender of NLD license would be in the normal course of business .....

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