Amortization of spectrum fee for purchase of spectrum - Section 35ABA

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... by the assessee for acquiring any right to use spectrum for telecommunication services either before the commencement of the business or thereafter at any time during any previous year and for which payment has been actually made to obtain a right to use spectrum, a deduction equal to the appropriate fraction of the amount of such expenditure shall be allowed for such relevant previous years. Amo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... x Treatment Entire telecommunication s pectrum is transferred i. When sale consideration is less than WDV WDV minus sale consideration is allowed as deduction under section 35ABB in the year of sale. ii. When sale consideration is more than WDV The excess of sale consideration over WDV is taxable as business income in the year of sale. When a part of telecommunication s pectrum is transferred i. W .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... there is failure to comply with any of the provisions of the section 35ABA: The deduction shall be deemed to have been wrongly allowed. The AO may, notwithstanding anything contained in this Act, re-compute the total income of the assessee for the said PY and make the necessary rectification. The provision of section 154 shall, so far as may be, apply and period of 4 years specified u/s 154(7) of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X