https://www.taxtmi.com/caselaws?id=275375 Trailers and loaders used in the business of running them on hire qualified for depreciation at the higher 40% rate under the applicable schedule. The decisive factual finding was that the assessee had earned transportation income and had in fact used the assets in a hire-running business; on that admitted basis, the court found no perversity in the finding below and held that no substantial question of law arose for interference. Depreciation at 40% was therefore rightly allowed on the trailers and loaders, and the appeal failed. en-us Wed, 30 Aug 2006 00:00:00 +0530 Sat, 29 Sep 2018 12:37:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275375 Trailers and loaders used in the business of running them on hire qualified for depreciation at the higher 40% rate under the applicable schedule. The decisive factual finding was that the assessee had earned transportation income and had in fact used the assets in a hire-running business; on that admitted basis, the court found no perversity in the finding below and held that no substantial question of law arose for interference. Depreciation at 40% was therefore rightly allowed on the trailers and loaders, and the appeal failed. Case-Laws Income Tax Wed, 30 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275375