https://www.taxtmi.com/caselaws?id=306934 The Tribunal upheld the decision to delete the addition of Rs.3,49,38,968/-, considering it a genuine expenditure essential for running the airline business. The appeal filed by the Revenue was dismissed due to the absence of any legal or factual flaws in the impugned order. The Tribunal's judgment favored the assessee by accepting the provision for obsolescence of spares as a legitimate expense, following established accounting standards and industry practices, ultimately dismissing the Revenue's appeal. en-us Thu, 07 Dec 2017 00:00:00 +0530 Tue, 07 Mar 2023 00:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306934 The Tribunal upheld the decision to delete the addition of Rs.3,49,38,968/-, considering it a genuine expenditure essential for running the airline business. The appeal filed by the Revenue was dismissed due to the absence of any legal or factual flaws in the impugned order. The Tribunal's judgment favored the assessee by accepting the provision for obsolescence of spares as a legitimate expense, following established accounting standards and industry practices, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Thu, 07 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306934