https://www.taxtmi.com/caselaws?id=13731 The court ruled in favor of the assessee on both issues. The High Court held that the enhanced rate of depreciation on transport vehicles, as per the amended Income-tax Rules, should apply for the assessment year 1981-82. The court emphasized that the law in force at the beginning of the assessment year should be applied, entitling the assessee to the higher rate of depreciation. The judgment favored the applicant, granting the enhanced rate of 40 per cent for the assessment year 1981-82. en-us Wed, 27 Jul 2005 00:00:00 +0530 Thu, 02 Jul 2009 10:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13731 The court ruled in favor of the assessee on both issues. The High Court held that the enhanced rate of depreciation on transport vehicles, as per the amended Income-tax Rules, should apply for the assessment year 1981-82. The court emphasized that the law in force at the beginning of the assessment year should be applied, entitling the assessee to the higher rate of depreciation. The judgment favored the applicant, granting the enhanced rate of 40 per cent for the assessment year 1981-82. Case-Laws Income Tax Wed, 27 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13731