engaged in the business of operation of aircraft, as a consideration of acquiring an aircraft or an aircraft engine (other than payment for providing spares ... facilities or services in connection with the operation of leased aircraft) on lease under an agreement entered into after the 31st day of March
engaged crew, technical personnel, engineers and other ground staff and wet-leased the aircrafts to a foreign cargo company. The assessee periodically made payments ... Officer rejected another plea of the assessee that the business of aircraft leasing was carried on outside India. The assessee's alternate plea that
contained in this lease, lessor hereby agrees to lease to lessee and lessee hereby agrees to lease from lessor the aircraft for the lease term ... termination of this lease or expiration of the lease terms.
12.1. general obligation
During the lease term and until the aircraft is returned to lessor
Aircraft Lease Agreement (in short the
Lease Agreement). The notices went on to state, that consequently, the
lease, was terminated with immediate effect in accordance ... IDERA, and other information qua the aircraft are provided hereinafter in
the tabular chart:
S. Aircraft Manufac Indian Lease IDPOA IDERA Certificate
No. Model turer
3885/2022 and CM No.11549/2022
ALAFCO IRISH AIRCRAFT LEASING TWO LIMITED
..... Petitioner
Through:
versus
ASSISTANT COMMISSIONER OF INCOME TAX
Signature Not Verified
Digitally ... 3886/2022 and CM No.11552/2022
ACG AIRCRAFT LEASING IRELAND LIMITED ..... Petitioner
Through:
versus
ASSISTANT COMMISSIONER OF INCOME TAX
CIRCLE 1(1)(1) INTERNATIONAL
business
operation of aircraft, to acquire an of operation of aircraft or an aircraft
aircraft on lease from Government of a the engine (other than ... provisions shows that payments made for acquisition of an aircraft or an aircraft engine on lease, prior to 1st April, 1996, were exempt from taxation
dated 14.7.1997. ] : [Provided that in the case of leased aircraft, the certificate of registration shall also include the validity of the lease and the names ... aircraft in India, or, as the case may be, to permit the aircraft to remain registered in India, if, in its opinion, the aircraft could
dated 14.7.1997.] : [Provided that in the case of leased aircraft, the certificate of registration shall also include the validity of the lease and the names ... aircraft in India, or, as the case may be, to permit the aircraft to remain registered in India, if, in its opinion, the aircraft could
Petition No. & Details of the Lease IDERA Lease Date of De-
Case Title Aircraft Leased Agreement Date(s) Agreement registration
Date(s) Termination Appl ... 8088/2023- GY MSN 7813 [For all all Aircraft]
AVIATION IRM VT-WGL Aircraft]
LEASE 1722 Airbus A320-271N 11.05.18
CO LIMITED
Petition No. & Details of the Lease IDERA Lease Date of De-
Case Title Aircraft Leased Agreement Date(s) Agreement registration
Date(s) Termination Appl ... 8088/2023- GY MSN 7813 [For all all Aircraft]
AVIATION IRM VT-WGL Aircraft]
LEASE 1722 Airbus A320-271N 11.05.18
CO LIMITED
