https://www.taxtmi.com/caselaws?id=70415 The effective date of the Income-tax (Fifth Amendment) Rules, 1980 determined whether motor vehicles used in transport business qualified for depreciation at 40% for assessment year 1980-81. The Revenue argued the enhanced rate applied only from assessment year 1981-82, but the amendment and notification were construed as operating from 24-7-1980. Following the later Third Member view and distinguishing the earlier Special Bench decision, the assessee was held entitled to the higher depreciation rate for the year under appeal. en-us Fri, 05 Apr 1991 00:00:00 +0530 Sat, 16 Apr 2011 10:25:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70415 The effective date of the Income-tax (Fifth Amendment) Rules, 1980 determined whether motor vehicles used in transport business qualified for depreciation at 40% for assessment year 1980-81. The Revenue argued the enhanced rate applied only from assessment year 1981-82, but the amendment and notification were construed as operating from 24-7-1980. Following the later Third Member view and distinguishing the earlier Special Bench decision, the assessee was held entitled to the higher depreciation rate for the year under appeal. Case-Laws Income Tax Fri, 05 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70415