https://www.taxtmi.com/caselaws?id=280665 The Tribunal dismissed the appeal, upholding the disallowance of the higher depreciation claim amounting to Rs. 22,77,188 for vehicles used in civil construction work. The decision was based on legal precedents and the assessee's failure to demonstrate that the vehicles were hired out, as required for the higher depreciation rate. The Tribunal concurred with the ld. CIT (A) and various High Court decisions, concluding that the use of vehicles for civil construction work did not meet the criteria for claiming increased depreciation. en-us Wed, 06 Jun 2018 00:00:00 +0530 Thu, 16 May 2019 06:26:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280665 The Tribunal dismissed the appeal, upholding the disallowance of the higher depreciation claim amounting to Rs. 22,77,188 for vehicles used in civil construction work. The decision was based on legal precedents and the assessee's failure to demonstrate that the vehicles were hired out, as required for the higher depreciation rate. The Tribunal concurred with the ld. CIT (A) and various High Court decisions, concluding that the use of vehicles for civil construction work did not meet the criteria for claiming increased depreciation. Case-Laws Income Tax Wed, 06 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280665