Suspension of Airline Operations for a Particular period due to losses does not amount to Cessation of Business: ITAT deletes Addition made towards disallowance of expenditure [Read Order]

By Aparna. M - On November 10, 2023 5:30 pm - 2 mins read
Suspension - Airline Operations - Particular period - losses - amount - Cessation of Business-ITAT -  disallowance of expenditure-taxscan

The Income Tax Appellate Tribunal (ITAT), Delhi bench during deleting the addition made towards the disallowance of the expenditure held that suspension of airline operations for a particular period due to losses does not amount to cessation of business. The assessee, MDLR Airlines Pvt. Ltd. is carrying out business of transportation of goods and passengers…

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