https://www.taxtmi.com/caselaws?id=289375 The Court allowed the appeal, ruling in favor of the appellant, and granted the claimed depreciation at the rate of 30% for the cranes used in the hiring business. The Court criticized the Revenue's assumption that the cranes were used for the appellant's construction business without sufficient evidence, emphasizing the principle of consistency in allowing higher depreciation rates for similar cranes in previous assessments. The Court held that the Revenue authorities erred in limiting the depreciation to 15% and found in favor of the appellant against the Revenue. en-us Tue, 16 Jul 2019 00:00:00 +0530 Tue, 28 Jul 2020 10:11:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289375 The Court allowed the appeal, ruling in favor of the appellant, and granted the claimed depreciation at the rate of 30% for the cranes used in the hiring business. The Court criticized the Revenue's assumption that the cranes were used for the appellant's construction business without sufficient evidence, emphasizing the principle of consistency in allowing higher depreciation rates for similar cranes in previous assessments. The Court held that the Revenue authorities erred in limiting the depreciation to 15% and found in favor of the appellant against the Revenue. Case-Laws Income Tax Tue, 16 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289375