https://www.taxtmi.com/caselaws?id=382318 The Tribunal upheld the CIT (A)'s decision to allow depreciation at 30% on plant & machinery, dismissing the Revenue's appeal. It emphasized that any attempt to restrict the rate would be a change of opinion not permitted by law. The Tribunal also upheld the 40% depreciation on wheel loaders and graders as commercial vehicles. The appeal was disposed of on merits, not tax effect, with the Tribunal remanding the leave encashment claim issue for further consideration. The judgment provided detailed legal analysis on depreciation rates, interpretation of definitions, and procedural steps for resolving specific claims. en-us Wed, 15 May 2019 00:00:00 +0530 Mon, 01 Jul 2019 07:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382318 The Tribunal upheld the CIT (A)'s decision to allow depreciation at 30% on plant & machinery, dismissing the Revenue's appeal. It emphasized that any attempt to restrict the rate would be a change of opinion not permitted by law. The Tribunal also upheld the 40% depreciation on wheel loaders and graders as commercial vehicles. The appeal was disposed of on merits, not tax effect, with the Tribunal remanding the leave encashment claim issue for further consideration. The judgment provided detailed legal analysis on depreciation rates, interpretation of definitions, and procedural steps for resolving specific claims. Case-Laws Income Tax Wed, 15 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382318