Higher depreciation for hired transport vehicles allowed when vehicles are used in the assessee's transport-on-hire business. A higher rate of depreciation is admissible on motor buses, motor lorries and motor taxis when used in a business of running them on hire; this benefit applies to vehicles owned and used by the assessee in providing transportation of goods on hire, but not where such vehicles are used in the assessee's non-hiring business activities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Higher depreciation for hired transport vehicles allowed when vehicles are used in the assessee's transport-on-hire business.
A higher rate of depreciation is admissible on motor buses, motor lorries and motor taxis when used in a business of running them on hire; this benefit applies to vehicles owned and used by the assessee in providing transportation of goods on hire, but not where such vehicles are used in the assessee's non-hiring business activities.
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