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of <h1>Rigs & Compressors Excluded from Special Depreciation Rate</h1> The High Court of Madras held that rigs and compressors used for drilling borewells do not qualify for a special depreciation rate of 50% as they are not ... Motor Lorry, Rate Of Depreciation, Special Rate The High Court of Madras ruled that rigs and compressors used for drilling borewells do not qualify for a special depreciation rate of 50%, as they are not considered integral parts of motor lorries. The court's decision was based on a previous case with a similar situation. The judgment favored the Revenue, and the question was answered in the negative. (Case citation: 1995 (9) TMI 22 - MADRAS High Court)
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