Credit received from supplier for choosing its engines in aircraft to be purchased is capital receipt : ITAT

INCOME TAX : Where assessee-company engaged in business of operating airlines in India, entered into a purchase agreement with AIRBUS SAS, France for supply of aircrafts - Assessee was given option to chose engines to be fitted in aircrafts and it chose engines manufactured by IAE - In return, IAE agreed to give certain amount of credit to assessee for choosing its engines - Whether since credits were received for selection of engines for purpose of support for aircraft acquisition,

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