https://www.taxtmi.com/caselaws?id=150539 Depreciation rates applied to vehicles under hire-purchase require legal evidence based on the vehicles' use, condition and other relevant facts; a rate adopted mechanically from an illustration without evaluating the record is unsustainable. The depreciation allowance on trucks and motor cars therefore lacked evidentiary support. For sales-tax computation in hire-purchase transactions, sale price is determined from the entire agreed hire-purchase value, including interest, finance service commission and charges for late payment, with depreciation deducted from that full amount rather than from the original price alone. en-us Wed, 11 Jul 1973 00:00:00 +0530 Sat, 18 May 2013 14:10:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150539 Depreciation rates applied to vehicles under hire-purchase require legal evidence based on the vehicles' use, condition and other relevant facts; a rate adopted mechanically from an illustration without evaluating the record is unsustainable. The depreciation allowance on trucks and motor cars therefore lacked evidentiary support. For sales-tax computation in hire-purchase transactions, sale price is determined from the entire agreed hire-purchase value, including interest, finance service commission and charges for late payment, with depreciation deducted from that full amount rather than from the original price alone. Case-Laws VAT and Sales Tax Wed, 11 Jul 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150539