VODAFONE IDEA LTD.,MUMBAI vs. PR CIT -5, MUMBAI
ITA 780/MUM/2021[2015-16]Status: DisposedITAT Mumbai28 Jan 2022AY 2015-16
Bench: Shri Kuldip Singh & Shri Amarjit Singhassessment Year: 2015-16
For Appellant: Shri J.D. Mistry, A.RFor Respondent: Shri Dharamveer Singh, D.R
Section 143(3)Section 263Section 32Section 32(1)Section 35A
…using the spectrum allotted. Hence, the spectrum is a “business or commercial right” with which the Assessee carries on its business of providing telecom services. The Assessee’s stand is based on the following decisions: > Skyline Caterers (P.) Lid. (2008) (118 TTJ 344); > Kotak Forex Brokerage Lid. (2009) (33 SOT 237); etc. During the F.Y. 2014-15, the Assessee has capitalized Rs.52,059.69 million under the block of “Intangible Assets”, towards the Spectrum Cost in respect of 2G and 3G Spectrum, based on “put to use” test. Interest on Deferred payment liability taken to acquire this spectrum has been capital…
