https://www.taxtmi.com/caselaws?id=17789 The High Court of Rajasthan ruled in favor of the Revenue, holding that the appropriate depreciation rate for trucks and dumpers used by the assessee in its business and for hire was 30 per cent, not 40 per cent as claimed. The court emphasized that the vehicles were used for the assessee's own business, not public transport, thus justifying the lower depreciation rate. Previous tribunal decisions and cases cited by the assessee were deemed irrelevant as the factual usage of the vehicles was clear. The court dismissed the plea to remit the matter back to the Tribunal, affirming the lower depreciation rate. en-us Wed, 01 May 1996 00:00:00 +0530 Thu, 24 Sep 2009 17:33:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17789 The High Court of Rajasthan ruled in favor of the Revenue, holding that the appropriate depreciation rate for trucks and dumpers used by the assessee in its business and for hire was 30 per cent, not 40 per cent as claimed. The court emphasized that the vehicles were used for the assessee's own business, not public transport, thus justifying the lower depreciation rate. Previous tribunal decisions and cases cited by the assessee were deemed irrelevant as the factual usage of the vehicles was clear. The court dismissed the plea to remit the matter back to the Tribunal, affirming the lower depreciation rate. Case-Laws Income Tax Wed, 01 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17789