The Interim Budget for this year was a Vote on Account Budget considering that General Elections are scheduled this year. During the Budget speech, the Hon’ble Finance Minister summarised the initi...
In a significant development, the Supreme Court concluded the debate on whether variable license fee should be classified as capital or revenue expenditure after almost 24 years. The Supreme Court overturned the decision of the Delhi High Court and upheld the argument of the Revenue to treat variable license fee as a capital expenditure. This is likely to have reaching implications for several companies in particular telecom companies.
