TDS interest paid on Account of Expenses on repair and maintenance of Aircrafts not allowable: ITAT [Read Order]

TDS interest paid account of expenses repair and Maintenance of Aircrafts - ITAT - TAXSCAN

The Delhi bench of  Income Tax Appellate Tribunal (ITAT) ruled that interest paid on account of expenses on repair and maintenance of aircrafts are not allowable expenditure. 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.During the assessment…

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