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2014 (5) TMI 707 - HC - Income TaxNature of expenses - Provision made for expenses - Aircraft re-delivery charges, Aircraft heavy maintenance and major engine repairs, which are in the nature of contingent expenditure and not on actual basis? – provisions made for expenses in respect of frequent flyer programme although the same was contingent in nature? - Held that:- in relation to the applicability of circular No.9 of 1943 issued on 23rd March, 1943 and the permissible deductions thereunder being inconsonance therewith the matter will have to go back to the Assessing Officer. The Assessing Officer will follow the instructions issued in the 1943 circular for dealing with the case in which the assessee has acquired the Aircrafts under what is known as a hirepurchase agreement and particularly clause (iii) thereof in relation to the assessee before us. The Assessing Officer shall complete this exercise as expeditiously as possible and within a period of two months from the date of receipt of copy of this order.
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