Depreciation classification for fork lift trucks establishes a transport-vehicle rate allowing substantial depreciation but excluding development rebate.

Fork lift trucks, characterised by diesel engines, hydraulic brakes, pneumatic tyres and licensed road use, are classified as transport vehicles and allowable depreciation at the rate of 30% under the Income-tax Rules; consequently these assets are not eligible for development rebate and officers are instructed to apply this classification and allowance.

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