https://www.taxtmi.com/caselaws?id=270201 The Tribunal dismissed the assessee's appeal for full deduction of Phase-I license fees under Section 35ABB(2) as the migration to Phase-II was not considered a "transfer." It upheld amortizing Phase-I fees over the Phase-II license term under Section 35ABB(1). The classification of interest income was remanded to the AO for reconsideration. The alternative claim for depreciation on the license fee was rejected, citing Section 35ABB(8). The Tribunal affirmed the CIT(A)'s direction to verify and allow the carry forward of unabsorbed depreciation and business loss. en-us Tue, 24 Nov 2015 00:00:00 +0530 Thu, 31 Dec 2015 12:35:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270201 The Tribunal dismissed the assessee's appeal for full deduction of Phase-I license fees under Section 35ABB(2) as the migration to Phase-II was not considered a "transfer." It upheld amortizing Phase-I fees over the Phase-II license term under Section 35ABB(1). The classification of interest income was remanded to the AO for reconsideration. The alternative claim for depreciation on the license fee was rejected, citing Section 35ABB(8). The Tribunal affirmed the CIT(A)'s direction to verify and allow the carry forward of unabsorbed depreciation and business loss. Case-Laws Income Tax Tue, 24 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270201