https://www.taxtmi.com/caselaws?id=185860 Higher depreciation on motor vehicles is admissible only where the vehicles are actually used in the business of running them on hire; mere leasing out of vehicles does not satisfy that condition. The Court followed its earlier binding decision on the same issue and rejected the plea that it was per incuriam, finding no ignorance of any statutory provision or binding precedent. Although tax consistency cannot displace the principle that each assessment year is a separate cause of action, the prior view still controlled the controversy. The assessee was therefore not entitled to the higher rate of depreciation, and the Tribunal's order was reversed to that extent. en-us Tue, 06 Sep 2011 00:00:00 +0530 Tue, 30 Aug 2016 17:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185860 Higher depreciation on motor vehicles is admissible only where the vehicles are actually used in the business of running them on hire; mere leasing out of vehicles does not satisfy that condition. The Court followed its earlier binding decision on the same issue and rejected the plea that it was per incuriam, finding no ignorance of any statutory provision or binding precedent. Although tax consistency cannot displace the principle that each assessment year is a separate cause of action, the prior view still controlled the controversy. The assessee was therefore not entitled to the higher rate of depreciation, and the Tribunal's order was reversed to that extent. Case-Laws Income Tax Tue, 06 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185860