Migration from one phase to another would not result in transfer of license awarded in Phase I

Brief of the case: The ITAT Delhi in the case of Digital Radio Broadcasting Ltd. held that the migration from one phase to another phase cannot be considered as transfer of license awarded under phase I particularly when the license agreement restrict any type of transfer or assignment of license or rights thereunder. Such migration is rater a modification in terms and conditions of license awarded under Phase I and thus,, allowable as deduction for the modified period of license awarded under Phase II as per Sec 35ABB(1). Facts of the case: The assessee company are engaged in the business ...