https://www.taxtmi.com/caselaws?id=2406 The Tribunal held that harvesting combines were eligible for 30% depreciation even before the 1978 amendment, likening them to motor tractors essential for agricultural operations. The High Court upheld this decision, emphasizing the machines' significance in agriculture and rejecting the Revenue's argument that the amendment implied prior ineligibility for higher depreciation rates. The Court found no legal flaws, supported the Tribunal's reasoning, and affirmed the entitlement to 30% depreciation, maintaining the classification of harvesting combines as vehicles. en-us Thu, 19 Apr 2007 00:00:00 +0530 Thu, 31 Jul 2008 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2406 The Tribunal held that harvesting combines were eligible for 30% depreciation even before the 1978 amendment, likening them to motor tractors essential for agricultural operations. The High Court upheld this decision, emphasizing the machines' significance in agriculture and rejecting the Revenue's argument that the amendment implied prior ineligibility for higher depreciation rates. The Court found no legal flaws, supported the Tribunal's reasoning, and affirmed the entitlement to 30% depreciation, maintaining the classification of harvesting combines as vehicles. Case-Laws Income Tax Thu, 19 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2406