https://www.taxtmi.com/caselaws?id=205176 Higher depreciation at 30% was available for earth-moving vehicles and loaders used in a business of hiring them out, because vehicles registered as heavy or medium motor vehicles and fitted for excavation and limited movement of material could fall within the expression "motor lorries" in the relevant depreciation entry. The revisional view that the assets were not hired out was contrary to the record, so the restriction of depreciation to 15% under section 263 was unsustainable. On this basis, the assessee remained entitled to the higher depreciation rate. en-us Fri, 16 Jul 2010 00:00:00 +0530 Fri, 20 Jan 2012 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205176 Higher depreciation at 30% was available for earth-moving vehicles and loaders used in a business of hiring them out, because vehicles registered as heavy or medium motor vehicles and fitted for excavation and limited movement of material could fall within the expression "motor lorries" in the relevant depreciation entry. The revisional view that the assets were not hired out was contrary to the record, so the restriction of depreciation to 15% under section 263 was unsustainable. On this basis, the assessee remained entitled to the higher depreciation rate. Case-Laws Income Tax Fri, 16 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205176