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of <h1>Depreciation not allowed on route permit value for bus: High Court decision</h1> The High Court of Madras held that depreciation should be allowed only on the value of the bus, excluding the route permit value. The court ruled in favor ... Depreciation The High Court of Madras ruled that depreciation should only be allowed on the value of the bus, not the entire purchase price including the route permit. The court decided in favor of the Revenue, citing a previous case where it was held that depreciation is not allowable on the amount representing the route permit value.
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