holding that the assessee is entitled for eligible
deduction u/s. 35ABB amounting to Rs.7,18,89,454/- on account of
variable license fees ... fixed license fees of Rs.23,95,81,194/-
claimed u/s. 35ABB of the Act.
1. On the facts and in the circumstances
expenditure or capital expenditure which is
required to be amortized under Section 35ABB of the Income Tax
Act, 1961 (Act, for short ... very outset, we would like to reproduce Section 35ABB,
which reads:
"35ABB.(1) In respect of any expenditure, being in the
nature of capital
involves I.T. Tax
effect of Rs.4647.88 lakhs.
2. Section
35ABB of the Income Tax Act, 1961 provides for amortization of
license ... considered the same for amortization
by invoking the provisions of Section 35ABB . Accordingly one-eleventh
of Rs.982917915/-/- was allowed as deduction.
It
was seen
Ijm (India) Infrastructure Limited,, ... vs Assessee on 3 June, 2013
IN THE INCOME TAX APPELLATE
Deemed income u/s 33AB/33ABA/35ABB/41/72A/
80HHD/80-IA 2585 NIL
17. Profit or gains computed u/s 44AD/44AE/44AF/
44BB
period of the licence in accordance with the
provisions of Section 35ABB of the IT Act and this had not been done and
thereby excess
