Commercial vehicle capital allowance: vehicles acquired late in year qualify for prescribed WDV deduction when used for business. Amendment provides a limited capital allowance for commercial vehicles acquired between 1 October, 1998 and 1 April, 1999 and put to use before 1 April, 1999: depreciation is allowed on the written down value at a percentage to be prescribed. 'Commercial vehicle' is defined to include specified vehicle classes and to exclude maxi-cab, motor cab, tractor and road-roller, with meanings ascribed by section 2 of the Motor Vehicles Act, 1988.
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Provisions expressly mentioned in the judgment/order text.
Commercial vehicle capital allowance: vehicles acquired late in year qualify for prescribed WDV deduction when used for business.
Amendment provides a limited capital allowance for commercial vehicles acquired between 1 October, 1998 and 1 April, 1999 and put to use before 1 April, 1999: depreciation is allowed on the written down value at a percentage to be prescribed. "Commercial vehicle" is defined to include specified vehicle classes and to exclude maxi-cab, motor cab, tractor and road-roller, with meanings ascribed by section 2 of the Motor Vehicles Act, 1988.
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