https://www.taxtmi.com/caselaws?id=155548 In hire-purchase valuation for depreciation purposes, the Tribunal's remand direction was consistent with the Supreme Court rule that the vehicle's price should be determined on the date the hirer exercises the option and becomes owner. On that basis, the method adopted could be applied by the sales tax authorities according to the facts and circumstances of the case. The initial payment was therefore properly included in the amount on which depreciation was to be allowed. en-us Fri, 18 Sep 1987 00:00:00 +0530 Thu, 05 Sep 2013 14:01:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155548 In hire-purchase valuation for depreciation purposes, the Tribunal's remand direction was consistent with the Supreme Court rule that the vehicle's price should be determined on the date the hirer exercises the option and becomes owner. On that basis, the method adopted could be applied by the sales tax authorities according to the facts and circumstances of the case. The initial payment was therefore properly included in the amount on which depreciation was to be allowed. Case-Laws VAT and Sales Tax Fri, 18 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155548