https://www.taxtmi.com/caselaws?id=188455 The Tribunal ruled in favor of the appellant, directing the AO to grant depreciation at 40% for vehicles used in business. The decision emphasized the need to interpret legal precedents accurately and not extend them beyond their intended scope. The ruling overturned the CIT(A)'s decision, which had relied on a misapplied legal argument, confirming the appellant's entitlement to the higher depreciation rate based on the Tribunal's clarification of the relevant legal principles. en-us Thu, 26 Jul 2007 00:00:00 +0530 Thu, 01 Dec 2016 13:07:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188455 The Tribunal ruled in favor of the appellant, directing the AO to grant depreciation at 40% for vehicles used in business. The decision emphasized the need to interpret legal precedents accurately and not extend them beyond their intended scope. The ruling overturned the CIT(A)'s decision, which had relied on a misapplied legal argument, confirming the appellant's entitlement to the higher depreciation rate based on the Tribunal's clarification of the relevant legal principles. Case-Laws Income Tax Thu, 26 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188455