https://www.taxtmi.com/caselaws?id=210960 Higher depreciation for motor vehicles is confined to vehicles used by the assessee in its own business of running them on hire. Mere leasing, without the assessee conducting vehicle-hiring or transportation operations, does not meet that condition, so the enhanced depreciation claim fails. Ordinary depreciation may nevertheless be available where a company beneficially owns and funds vehicles, uses them for its business, and reports the related lease income, even if registration stands in its directors' names. Beneficial ownership and business use therefore support depreciation, while registration alone does not defeat the claim. en-us Wed, 03 Aug 2011 00:00:00 +0530 Wed, 09 Sep 2026 12:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210960 Higher depreciation for motor vehicles is confined to vehicles used by the assessee in its own business of running them on hire. Mere leasing, without the assessee conducting vehicle-hiring or transportation operations, does not meet that condition, so the enhanced depreciation claim fails. Ordinary depreciation may nevertheless be available where a company beneficially owns and funds vehicles, uses them for its business, and reports the related lease income, even if registration stands in its directors' names. Beneficial ownership and business use therefore support depreciation, while registration alone does not defeat the claim. Case-Laws Income Tax Wed, 03 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210960