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Case Law Details

Case Name : Span Air Pvt Ltd Vs ACIT (ITAT Delhi)
Appeal Number : ITA No. 2755/Del/2019
Date of Judgement/Order : 31/05/2023
Related Assessment Year : 2015-16
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Span Air Pvt Ltd Vs ACIT (ITAT Delhi)

Introduction: In a significant judgment, the Income Tax Appellate Tribunal (ITAT) Delhi has interpreted the phrase ‘used for the purposes of business’ to include assets ready for use but not actually put to use. The ruling came in the case of Span Air Pvt Ltd Vs ACIT, pertaining to the disallowance of a portion of depreciation under section 32 of the Income Tax Act.

Analysis: Span Air Pvt Ltd had claimed fu

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