https://www.taxtmi.com/caselaws?id=369793 The High Court dismissed the appellant-assessee's appeal seeking a higher rate of depreciation on trucks/dumpers at 30% under Section 32 of the Income Tax Rules, 1962. The appeal was rejected by the lower authorities, and the High Court found that no substantial question of law arose, leading to the dismissal of the appeal. The Court noted that the arguments raised were not presented before the lower authorities and could not be raised for the first time before the Court. The Tribunal's reliance on judgments of other High Courts supported its decision on the classification and eligibility for higher depreciation rates. en-us Mon, 22 Oct 2018 00:00:00 +0530 Thu, 01 Nov 2018 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369793 The High Court dismissed the appellant-assessee's appeal seeking a higher rate of depreciation on trucks/dumpers at 30% under Section 32 of the Income Tax Rules, 1962. The appeal was rejected by the lower authorities, and the High Court found that no substantial question of law arose, leading to the dismissal of the appeal. The Court noted that the arguments raised were not presented before the lower authorities and could not be raised for the first time before the Court. The Tribunal's reliance on judgments of other High Courts supported its decision on the classification and eligibility for higher depreciation rates. Case-Laws Income Tax Mon, 22 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369793