https://www.taxtmi.com/caselaws?id=334635 The Tribunal dismissed the Revenue's appeal, affirming the assessee's eligibility for higher depreciation on vehicles used in its transportation business. The decision hinged on the interpretation of Circular No.652 and the nature of the assessee's activities, supported by agreements with another transport company. Precedents from the Bombay High Court and Kolkata Tribunal backed the Tribunal's ruling, emphasizing the transportation of goods for others. The assessee successfully demonstrated qualification for increased depreciation rates, concluding the dispute in their favor. en-us Fri, 09 Sep 2016 00:00:00 +0530 Mon, 21 Nov 2016 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334635 The Tribunal dismissed the Revenue's appeal, affirming the assessee's eligibility for higher depreciation on vehicles used in its transportation business. The decision hinged on the interpretation of Circular No.652 and the nature of the assessee's activities, supported by agreements with another transport company. Precedents from the Bombay High Court and Kolkata Tribunal backed the Tribunal's ruling, emphasizing the transportation of goods for others. The assessee successfully demonstrated qualification for increased depreciation rates, concluding the dispute in their favor. Case-Laws Income Tax Fri, 09 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334635