https://www.taxtmi.com/caselaws?id=18834 The court dismissed the writ application challenging the disallowance of higher depreciation rates for trucks used in transportation of goods on hire. It held that the circulars issued by the Central Board of Direct Taxes supported the petitioner's claim, but the assessing authority's interpretation led to the rejection of higher depreciation rates. The court emphasized that the CBDT circulars were binding on income-tax authorities, but the petitioner should seek remedy through appropriate channels. The court found the writ application not maintainable due to the availability of alternative remedies and factual disputes, directing the petitioner to pursue remedies under the Income-tax Act. en-us Wed, 08 Nov 1995 00:00:00 +0530 Mon, 02 Nov 2009 12:39:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18834 The court dismissed the writ application challenging the disallowance of higher depreciation rates for trucks used in transportation of goods on hire. It held that the circulars issued by the Central Board of Direct Taxes supported the petitioner's claim, but the assessing authority's interpretation led to the rejection of higher depreciation rates. The court emphasized that the CBDT circulars were binding on income-tax authorities, but the petitioner should seek remedy through appropriate channels. The court found the writ application not maintainable due to the availability of alternative remedies and factual disputes, directing the petitioner to pursue remedies under the Income-tax Act. Case-Laws Income Tax Wed, 08 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18834