https://www.taxtmi.com/caselaws?id=119867 Enhanced depreciation at 40% was available for a motor car acquired between 1 October 1998 and 31 March 1999 and used for business before 1 April 1999, because the third proviso to section 32 and Item III(iia) of Appendix I extended the commercial-vehicle rate to vehicles within the statutory definition of commercial vehicle, including a light motor vehicle. The benefit depended on the asset meeting the defined classification and the prescribed acquisition and user conditions, not on a restrictive commercial label or treatment as a hire vehicle. On that construction, the car qualified for the higher rate. en-us Thu, 12 Oct 2006 00:00:00 +0530 Mon, 19 Feb 2024 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119867 Enhanced depreciation at 40% was available for a motor car acquired between 1 October 1998 and 31 March 1999 and used for business before 1 April 1999, because the third proviso to section 32 and Item III(iia) of Appendix I extended the commercial-vehicle rate to vehicles within the statutory definition of commercial vehicle, including a light motor vehicle. The benefit depended on the asset meeting the defined classification and the prescribed acquisition and user conditions, not on a restrictive commercial label or treatment as a hire vehicle. On that construction, the car qualified for the higher rate. Case-Laws Income Tax Thu, 12 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119867