https://www.taxtmi.com/caselaws?id=179466 The ITAT and High Court upheld the allowance of depreciation on aircraft at 40% instead of 15%, as determined by the AO. The courts determined that the aircraft in question qualified as an 'aeroplane' eligible for the higher depreciation rate, based on general definitions and past department practices. The CIT's attempt to differentiate between 'aircraft' and 'aeroplane' was deemed unjustified, leading to the dismissal of the Revenue's appeals and the affirmation of the CIT(A)'s order. en-us Fri, 26 Apr 2013 00:00:00 +0530 Wed, 02 Mar 2016 16:17:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179466 The ITAT and High Court upheld the allowance of depreciation on aircraft at 40% instead of 15%, as determined by the AO. The courts determined that the aircraft in question qualified as an 'aeroplane' eligible for the higher depreciation rate, based on general definitions and past department practices. The CIT's attempt to differentiate between 'aircraft' and 'aeroplane' was deemed unjustified, leading to the dismissal of the Revenue's appeals and the affirmation of the CIT(A)'s order. Case-Laws Income Tax Fri, 26 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179466