Higher depreciation on hire-used trailers and loaders upheld on factual finding of business use for transportation income.

Trailers and loaders used in the business of running them on hire qualified for depreciation at the higher 40% rate under the applicable schedule. The decisive factual finding was that the assessee had earned transportation income and had in fact used the assets in a hire-running business; on that admitted basis, the court found no perversity in the finding below and held that no substantial question of law arose for interference. Depreciation at 40% was therefore rightly allowed on the trailers and loaders, and the appeal failed.

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Issues: Whether depreciation at 40% was admissible on trailers and loaders used in the business of running them on hire.

Analysis: The factual finding recorded below was that the assessee had earned transportation income and had used the trailers and loaders in the business of running them on hire. On that admitted position, the higher rate of depreciation under the applicable depreciation schedule was held to be available. No perversity in the finding was shown, and no substantial question of law arose for interference.

Conclusion: Depreciation at 40% was rightly allowed on the trailers and loaders, and the appeal failed.

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