https://www.taxtmi.com/caselaws?id=258917 Workover rigs registered as heavy goods vehicles were treated as motor lorries for depreciation purposes because the classification had to be read in context with the Motor Vehicles Act and the depreciation schedule. The jurisdictional High Court precedent treating a mobile crane registered as a heavy motor vehicle as falling within motor lorries was followed, and the contrary views of other High Courts did not override that binding authority. Applying the view favourable to the assessee where two interpretations were possible, higher depreciation at 40% was allowed. en-us Fri, 10 Apr 2015 00:00:00 +0530 Fri, 24 Apr 2015 08:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258917 Workover rigs registered as heavy goods vehicles were treated as motor lorries for depreciation purposes because the classification had to be read in context with the Motor Vehicles Act and the depreciation schedule. The jurisdictional High Court precedent treating a mobile crane registered as a heavy motor vehicle as falling within motor lorries was followed, and the contrary views of other High Courts did not override that binding authority. Applying the view favourable to the assessee where two interpretations were possible, higher depreciation at 40% was allowed. Case-Laws Income Tax Fri, 10 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258917