https://www.taxtmi.com/caselaws?id=183034 Section 44AE applies only to an assessee owning not more than ten goods carriages and is a deeming provision requiring strict construction; a JCB, being an earth-moving machine whose main function is excavation and lifting, is not a goods carriage merely because it may incidentally move excavated material, so presumptive taxation was not available. For depreciation, however, the higher rate for motor lorries used in the business of running them on hire was applied on a functional basis; a JCB could be treated as a motor lorry for that purpose because it also performs transport-related work. The assessee therefore failed on section 44AE but qualified for depreciation at 40% on JCBs. en-us Fri, 25 Jan 2008 00:00:00 +0530 Thu, 26 May 2016 16:10:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183034 Section 44AE applies only to an assessee owning not more than ten goods carriages and is a deeming provision requiring strict construction; a JCB, being an earth-moving machine whose main function is excavation and lifting, is not a goods carriage merely because it may incidentally move excavated material, so presumptive taxation was not available. For depreciation, however, the higher rate for motor lorries used in the business of running them on hire was applied on a functional basis; a JCB could be treated as a motor lorry for that purpose because it also performs transport-related work. The assessee therefore failed on section 44AE but qualified for depreciation at 40% on JCBs. Case-Laws Income Tax Fri, 25 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183034