https://www.taxtmi.com/caselaws?id=216099 Motor cars admitted to be light motor vehicles were treated as commercial vehicles for depreciation under section 32 of the Income-tax Act, 1961 read with Rule 5(1) and Appendix I. The relevant entry for new commercial vehicles, together with Note 6, brought light motor vehicles within the commercial vehicle category when used in the assessee's business, so higher depreciation at 50% was available. The challenge accordingly did not raise any substantial question of law, and the assessee's claim to the higher rate was sustained. en-us Wed, 08 Aug 2012 00:00:00 +0530 Mon, 27 Aug 2012 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216099 Motor cars admitted to be light motor vehicles were treated as commercial vehicles for depreciation under section 32 of the Income-tax Act, 1961 read with Rule 5(1) and Appendix I. The relevant entry for new commercial vehicles, together with Note 6, brought light motor vehicles within the commercial vehicle category when used in the assessee's business, so higher depreciation at 50% was available. The challenge accordingly did not raise any substantial question of law, and the assessee's claim to the higher rate was sustained. Case-Laws Income Tax Wed, 08 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216099