https://www.taxtmi.com/caselaws?id=178573 The Court affirmed the Tribunal's decision to allow depreciation on motor cars as commercial vehicles at a rate of 50%, following established precedent that deemed motor cars eligible for such treatment. Additionally, the Court upheld the allowance of depreciation on intangible assets, including business and commercial brand equity, based on a Supreme Court ruling recognizing intangible assets as depreciable assets. The appeal was dismissed, concluding that both motor cars and intangible assets are eligible for depreciation in accordance with relevant tax laws and judicial precedents. en-us Tue, 16 Oct 2012 00:00:00 +0530 Sat, 03 Jun 2017 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178573 The Court affirmed the Tribunal's decision to allow depreciation on motor cars as commercial vehicles at a rate of 50%, following established precedent that deemed motor cars eligible for such treatment. Additionally, the Court upheld the allowance of depreciation on intangible assets, including business and commercial brand equity, based on a Supreme Court ruling recognizing intangible assets as depreciable assets. The appeal was dismissed, concluding that both motor cars and intangible assets are eligible for depreciation in accordance with relevant tax laws and judicial precedents. Case-Laws Income Tax Tue, 16 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178573