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Insertion of new section 35ABA.

Section 16 - Act - DIRECT TAXES - Finance Act - Section 16 - 16. After section 35AB of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2017, namely:- Expenditure for obtaining right to use spectrum for telecommunication services. 35ABA. (1) In respect of any expenditure, being in the nature of capital expenditure, incurred for acquiring any right to use spectrum for telecommunication services either before the commencement of the business or the .....

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e, in a previous year, any deduction has been claimed and granted to the assessee under sub-section (1), and, subsequently, there is failure to comply with any of the provisions of this section, then,- (a) the deduction shall be deemed to have been wrongly allowed; (b) the Assessing Officer may, notwithstanding anything contained in this Act, re-compute the total income of the assessee for the said previous year and make the necessary rectification; (c) the provisions of section 154 shall, so fa .....

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