https://www.taxtmi.com/caselaws?id=242527 The Tribunal upheld the higher depreciation rates claimed by the assessee on tippers, road rollers, and JCB, considering them as motor vehicles used for hiring purposes. It also ruled in favor of the assessee regarding the disallowance of transport expenses under Section 40(a)(ia), stating that the payments were for material supply, not transport services alone. Additionally, the Tribunal found no evidence of remission or cessation of liabilities under Section 41(1) and dismissed the Revenue's appeals for both assessment years. The CIT (A)'s decisions were affirmed, and the order was pronounced on 28.07.2011. en-us Thu, 28 Jul 2011 00:00:00 +0530 Fri, 17 Jan 2014 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242527 The Tribunal upheld the higher depreciation rates claimed by the assessee on tippers, road rollers, and JCB, considering them as motor vehicles used for hiring purposes. It also ruled in favor of the assessee regarding the disallowance of transport expenses under Section 40(a)(ia), stating that the payments were for material supply, not transport services alone. Additionally, the Tribunal found no evidence of remission or cessation of liabilities under Section 41(1) and dismissed the Revenue's appeals for both assessment years. The CIT (A)'s decisions were affirmed, and the order was pronounced on 28.07.2011. Case-Laws Income Tax Thu, 28 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242527