https://www.taxtmi.com/caselaws?id=186659 The Court held that the assessee is entitled to the normal rate of depreciation at 25% on vehicles leased to AMC, not the higher rate of 40%. The Tribunal's decision allowing the higher depreciation was reversed, and the appeals were disposed of accordingly. The Court emphasized the importance of judicial precedents and consistency in Revenue matters, highlighting that each assessment year creates a new cause of action. en-us Wed, 27 Jul 2011 00:00:00 +0530 Mon, 26 Sep 2016 17:40:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186659 The Court held that the assessee is entitled to the normal rate of depreciation at 25% on vehicles leased to AMC, not the higher rate of 40%. The Tribunal's decision allowing the higher depreciation was reversed, and the appeals were disposed of accordingly. The Court emphasized the importance of judicial precedents and consistency in Revenue matters, highlighting that each assessment year creates a new cause of action. Case-Laws Income Tax Wed, 27 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186659