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<h1>Truck depreciation restored on hire-purchase basis by ITAT Jabalpur</h1> <h3>Chhotelal Rai. Versus Income-Tax Officer</h3> Chhotelal Rai. Versus Income-Tax Officer - ITD 017, 652, The ITAT Jabalpur allowed the appeal regarding depreciation on a truck purchased on hire-purchase basis, restoring the depreciation originally allowed by the ITO. The Tribunal considered various legal instructions and decisions supporting the assessee's claim for depreciation based on de facto ownership. The appeal was allowed, and the depreciation was restored.