Depreciation classification for cranes mounted on transport vehicles entitles them to the specified higher allowance under income-tax rules. Cranes mounted on mobile transport vehicles that are fitted with diesel engines, hydraulic brakes and pneumatic tyres and are registered/licensed with regional transport authorities are classified under item No.III(ii) D(9) Part I of Appendix I to the Income-tax Rules, 1962 and are entitled to 30% depreciation on cost or written down value as applicable.
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.
Depreciation classification for cranes mounted on transport vehicles entitles them to the specified higher allowance under income-tax rules.
Cranes mounted on mobile transport vehicles that are fitted with diesel engines, hydraulic brakes and pneumatic tyres and are registered/licensed with regional transport authorities are classified under item No.III(ii) D(9) Part I of Appendix I to the Income-tax Rules, 1962 and are entitled to 30% depreciation on cost or written down value as applicable.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
