https://www.taxtmi.com/caselaws?id=792918 A provision for repair of unserviceable aircraft spare parts was treated as deductible business expenditure because the spares formed part of regular inventory and their repair or replacement was a normal recurring requirement in airline operations. The Tribunal accepted that an estimate based on reasonable probability could be allowed even if the exact liability would be quantified later. It rejected disallowance on the ground of contingency, holding that a business liability reasonably estimated and arising in the course of operations is deductible. The disallowance was deleted and the claim was allowed in favour of the assessee. en-us Wed, 03 Jun 2026 00:00:00 +0530 Fri, 05 Jun 2026 08:07:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792918 A provision for repair of unserviceable aircraft spare parts was treated as deductible business expenditure because the spares formed part of regular inventory and their repair or replacement was a normal recurring requirement in airline operations. The Tribunal accepted that an estimate based on reasonable probability could be allowed even if the exact liability would be quantified later. It rejected disallowance on the ground of contingency, holding that a business liability reasonably estimated and arising in the course of operations is deductible. The disallowance was deleted and the claim was allowed in favour of the assessee. Case-Laws Income Tax Wed, 03 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792918