https://www.taxtmi.com/caselaws?id=15112 The High Court upheld the decisions of the lower authorities, ruling in favor of the Revenue and against the assessee on all three issues regarding depreciation rate entitlement for leased vehicles, classification of leasing for depreciation purposes, and application of different depreciation rates based on vehicle usage. The Court concluded that the correct depreciation rate of 30% should apply instead of the claimed 40%, as determined by the Income-tax Officer, Commissioner of Income-tax (Appeals), and the Tribunal. en-us Tue, 21 Mar 2000 00:00:00 +0530 Mon, 03 Aug 2009 11:26:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15112 The High Court upheld the decisions of the lower authorities, ruling in favor of the Revenue and against the assessee on all three issues regarding depreciation rate entitlement for leased vehicles, classification of leasing for depreciation purposes, and application of different depreciation rates based on vehicle usage. The Court concluded that the correct depreciation rate of 30% should apply instead of the claimed 40%, as determined by the Income-tax Officer, Commissioner of Income-tax (Appeals), and the Tribunal. Case-Laws Income Tax Tue, 21 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15112