ITAT allows Depreciation claims on Aircraft put to use for a period less than 180 days [Read Order]

ITAT Delhi - Depreciation Claims on Aircraft - ITAT aircraft depreciation ruling - ITAT decision on aviation depreciation - Taxscan

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) allowed depreciation claims on the aircraft put to use for a period less than 180 days. The Assessee, India Flysafe Aviation Ltd is engaged in the business of providing aircrafts on charter basis to the VVIPs, State governments, corporate houses, travel agents, etc.In the return of income…

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