2017 (2) TMI 345 - SCH - Income Tax

Depreciation on aircraft acquired on hire purchase - Issue notice only on Question No. 2 - whether in the facts and in the circumstances of the case and in law the Hon ble High Court was justified in not admitting the appeal of the revenue on the issue in deleting the addition made on account of depreciation on aircraft acquired on hire purchase. Ref hc case - 2016 (2) TMI 572 - BOMBAY HIGH COURT

Summary

The Supreme Court heard the petitioner's counsel and reviewed the relevant material. The delay was condoned. Notice was issued on Question No. 2 regarding the deletion of depreciation on aircraft acquired on hire purchase. The case was tagged with SLP(C). CC No. 11869 of 2015.