Tribunal deletes Reliance Jio Infocomm's Rs 11,000 cr tax disallowance

The income tax appellate tribunal deleted a large tax disallowance for Reliance Jio Infocomm. It ruled that accounting treatment does not solely determine tax treatment of expenditure. The tribunal dismissed tax appeals concerning operational costs capitalized by the company. It found no new enduring asset was created by the disputed expenses. This decision upheld the deletion of the entire ₹11,003 crore disallowance.

Raccontata daeconomictimes.indiatimes.com