TMI BlogExpenditure for obtaining licence to operate telecommunication servicesX X X X Extracts X X X X X X X X Extracts X X X X ..... t previous years, a deduction equal to the appropriate fraction of the amount of such expenditure. Explanation .- For the purposes of this section,- 3 [ ( i ) relevant previous years means,- ( A ) in a case where the licence fee is actually paid before the commencement of the business to operate telecommunication services, the previous years beginning with the previous year in which such business commenced; ( B ) in any other case, the previous years beginning with the previous year in which the licence fee is actually paid, and the subsequent previous year or years during which the licence, for which the fee is paid, shall be in force; ] ( ii ) appropriate fraction means the fraction the numerator of which is one ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oceeds of the transfer (so far as they consist of capital sums) are not less than the amount of expenditure incurred remaining unallowed, no deduction for such expenditure shall be allowed under sub-section (1) in respect of the previous year in which the licence is transferred or in respect of any subsequent previous year or years. (5) Where a part of the licence is transferred in a previous year and sub-section (3) does not apply, the deduction to be allowed under sub-section (1) for expenditure incurred remaining unallowed shall be arrived at by- ( a ) subtracting the proceeds of transfer (so far as they consist of capital sums) from the expenditure remaining unallowed; and ( b ) dividing the remainder by the number of relevant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. Inserted by the Finance Act, 1999, w.r.e.f. 1-4-1996. 3. Substituted by the Finance Act, 1999, w.r.e.f. 1-4-1996. Prior to its substitution, clause (i), as inserted by the Finance Act, 1997, w.r.e.f. 1-4-1996, read as under : '(i) relevant previous years means the previous years beginning with the previous year in which the licence fee is actually paid and the subsequent previous year or years during which the licence, for which the fee is paid, shall be in force;' 4. Inserted by the Finance Act, 1999, w.e.f. 1-4-2000. 5. Inserted by the Finance Act, 1999, w.r.e.f. 1-4-1996. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanageme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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