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of <h1>Section 35ABB: Tax Deductions for Telecom License Costs, Transfer Adjustments, and Amalgamation Rules Explained</h1> Section 35ABB of the Income-tax Act, introduced by the Finance Act, 1997, allows for deductions on capital expenditure incurred for acquiring telecommunication service licenses. The deduction is spread over the relevant years during which the license is in force. If the license is transferred, the deduction depends on whether the proceeds are less than, equal to, or more than the remaining unallowed expenditure. In cases of amalgamation, the amalgamated company assumes the deduction rights of the amalgamating company. The section details conditions under which deductions are adjusted or disallowed based on the proceeds from license transfers.
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