Relief to Air India: ITAT Upholds Order allowing Unusable Old Inventory of Spares and Parts as Loss [Read Order]

Air - India - ITAT - Old - Inventory - of - Spares - Parts - Loss - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it by Air India, upheld the orders allowing unusable old inventory of spare and parts, as loss. The aforesaid observation was made by the ITAT when cross appeals were filed before it by M/S Air India Ltd., the assessee, and…

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Air India Ltd vs DCIT

Counsel for Appellant:   Shri Madhur Agrawal.AR

Counsel for Respondent:   Smt Sailaja Rai, CIT DR


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