https://www.taxtmi.com/caselaws?id=210960 The High Court ruled in favor of the Revenue, denying the higher depreciation rate to the assessee not engaged in hiring out vehicles. However, the court sided with the assessee, allowing the depreciation claim for vehicles registered in directors' names but used for the company's business. The judgments of previous cases and the specific business activities of the assessee played crucial roles in determining the outcomes for each issue. en-us Wed, 03 Aug 2011 00:00:00 +0530 Sat, 24 Mar 2012 13:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210960 The High Court ruled in favor of the Revenue, denying the higher depreciation rate to the assessee not engaged in hiring out vehicles. However, the court sided with the assessee, allowing the depreciation claim for vehicles registered in directors' names but used for the company's business. The judgments of previous cases and the specific business activities of the assessee played crucial roles in determining the outcomes for each issue. Case-Laws Income Tax Wed, 03 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210960