https://www.taxtmi.com/caselaws?id=19591 The Court upheld the Tribunal's decision, allowing the assessee, a private hospital, to claim a 40% depreciation rate for an ambulance van used in their business, despite the Department's challenge. The Court agreed that the van's use for hire constituted a business activity integral to the hospital's operations, justifying the higher depreciation rate. The Court dismissed the Department's petition, affirming the assessee's entitlement to the 40% depreciation rate under the Income-tax Act. en-us Wed, 26 Oct 1994 00:00:00 +0530 Sat, 07 Nov 2009 12:00:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19591 The Court upheld the Tribunal's decision, allowing the assessee, a private hospital, to claim a 40% depreciation rate for an ambulance van used in their business, despite the Department's challenge. The Court agreed that the van's use for hire constituted a business activity integral to the hospital's operations, justifying the higher depreciation rate. The Court dismissed the Department's petition, affirming the assessee's entitlement to the 40% depreciation rate under the Income-tax Act. Case-Laws Income Tax Wed, 26 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19591