https://www.taxtmi.com/caselaws?id=247780 The High Court upheld the Tribunal's decision on depreciation for aircraft on hire purchase, spares obsolescence, and expenses on repairs to furnitures and fixtures. The Court found these decisions aligned with legal principles and dismissed the appeal, concluding no legal errors were present. The Court directed the Assessing Officer to reassess deductions related to aircraft acquisitions under hire-purchase agreements in accordance with Circular No.9 of 1943, emphasizing timely compliance with the circular's guidelines. en-us Tue, 06 May 2014 00:00:00 +0530 Thu, 22 May 2014 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247780 The High Court upheld the Tribunal's decision on depreciation for aircraft on hire purchase, spares obsolescence, and expenses on repairs to furnitures and fixtures. The Court found these decisions aligned with legal principles and dismissed the appeal, concluding no legal errors were present. The Court directed the Assessing Officer to reassess deductions related to aircraft acquisitions under hire-purchase agreements in accordance with Circular No.9 of 1943, emphasizing timely compliance with the circular's guidelines. Case-Laws Income Tax Tue, 06 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247780