https://www.taxtmi.com/caselaws?id=155116 The tribunal ruled in favor of the assessee, holding that the helicopter used for the assessee's business and with claimed depreciation qualified as being used for commercial purposes. The tribunal rejected the narrow interpretation that the helicopter must be used for running on hire to be exempt from wealth-tax. Emphasizing the ordinary business usage and profit-making activities associated with the term "commercial purpose," the tribunal directed the Assessing Officer to delete the wealth-tax addition concerning the helicopter, allowing the appeals of the assessee. en-us Tue, 21 Jan 2003 00:00:00 +0530 Sat, 31 Aug 2013 15:13:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155116 The tribunal ruled in favor of the assessee, holding that the helicopter used for the assessee's business and with claimed depreciation qualified as being used for commercial purposes. The tribunal rejected the narrow interpretation that the helicopter must be used for running on hire to be exempt from wealth-tax. Emphasizing the ordinary business usage and profit-making activities associated with the term "commercial purpose," the tribunal directed the Assessing Officer to delete the wealth-tax addition concerning the helicopter, allowing the appeals of the assessee. Case-Laws Income Tax Tue, 21 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155116