https://www.taxtmi.com/highlights?id=72623 Nature of expenses - apportioning the licence fee as partly revenue and partly capital - variable licence fee paid by the assessees under the New Telecom Policy, 1999 - it cannot be axiomatically held that an expenditure which in its core, capital in nature, is actually to be treated as a revenue expenditure simply because the payment is structured in instalments. - Though the licence fee is payable in a staggered or deferred manner, the nature of the payment, which flows plainly from the licensing conditions, cannot be recharacterized. - Such a payment has to be treated or characterized as capital only. - SC en-us Wed, 18 Oct 2023 07:43:35 +0530 Wed, 18 Oct 2023 07:43:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72623 Nature of expenses - apportioning the licence fee as partly revenue and partly capital - variable licence fee paid by the assessees under the New Telecom Policy, 1999 - it cannot be axiomatically held that an expenditure which in its core, capital in nature, is actually to be treated as a revenue expenditure simply because the payment is structured in instalments. - Though the licence fee is payable in a staggered or deferred manner, the nature of the payment, which flows plainly from the licensing conditions, cannot be recharacterized. - Such a payment has to be treated or characterized as capital only. - SC Highlights Income Tax Wed, 18 Oct 2023 07:43:35 +0530 https://www.taxtmi.com/highlights?id=72623