https://www.taxtmi.com/caselaws?id=14981 The High Court directed the Income-tax Appellate Tribunal to rehear a case involving the depreciation rate on rigs, compressors, and wagon drills used for drilling borewells. The Court found that the Tribunal did not properly consider the classification of the machinery under the Depreciation Schedule and instructed a reevaluation to determine if the machinery should be classified as earth moving machinery for heavy construction works. The High Court refrained from answering the legal question and returned the reference without cost implications. en-us Thu, 18 Jun 1998 00:00:00 +0530 Mon, 27 Jul 2009 13:58:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14981 The High Court directed the Income-tax Appellate Tribunal to rehear a case involving the depreciation rate on rigs, compressors, and wagon drills used for drilling borewells. The Court found that the Tribunal did not properly consider the classification of the machinery under the Depreciation Schedule and instructed a reevaluation to determine if the machinery should be classified as earth moving machinery for heavy construction works. The High Court refrained from answering the legal question and returned the reference without cost implications. Case-Laws Income Tax Thu, 18 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14981