https://www.taxtmi.com/caselaws?id=12072 The High Court ruled against the assessee, confirming that rig machines used for drilling borewells, even when mounted on a lorry, did not qualify for the special rate of 30% depreciation as they were not integral parts of a lorry. The Court distinguished the nature of rig usage in mineral oil extraction cases, emphasizing the specific context in determining eligibility for higher depreciation rates. By analyzing legal provisions and precedents, the judgment ensured clarity and consistency in interpreting tax laws, ultimately upholding the lower depreciation rate of 15% for the rig machinery. en-us Sat, 11 May 2002 00:00:00 +0530 Tue, 16 Feb 2010 19:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12072 The High Court ruled against the assessee, confirming that rig machines used for drilling borewells, even when mounted on a lorry, did not qualify for the special rate of 30% depreciation as they were not integral parts of a lorry. The Court distinguished the nature of rig usage in mineral oil extraction cases, emphasizing the specific context in determining eligibility for higher depreciation rates. By analyzing legal provisions and precedents, the judgment ensured clarity and consistency in interpreting tax laws, ultimately upholding the lower depreciation rate of 15% for the rig machinery. Case-Laws Income Tax Sat, 11 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12072