https://www.taxtmi.com/caselaws?id=289817 The court upheld the assessee company's claim for 40% depreciation on specified vehicles used for transportation, distinguishing them from machinery like excavators. The Tribunal cited precedents from Hon'ble Gujarat High Court and Hon'ble Madhya Pradesh High Court in support. Additionally, the deletion of the addition on account of bad debts amounting to Rs. 3,08,890/- was upheld as the debts were either previously included in income or given as loans in the ordinary course of business. Consequently, the appeal filed by the Revenue was dismissed. en-us Fri, 29 Jan 2010 00:00:00 +0530 Mon, 24 Aug 2020 17:35:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289817 The court upheld the assessee company's claim for 40% depreciation on specified vehicles used for transportation, distinguishing them from machinery like excavators. The Tribunal cited precedents from Hon'ble Gujarat High Court and Hon'ble Madhya Pradesh High Court in support. Additionally, the deletion of the addition on account of bad debts amounting to Rs. 3,08,890/- was upheld as the debts were either previously included in income or given as loans in the ordinary course of business. Consequently, the appeal filed by the Revenue was dismissed. Case-Laws Income Tax Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289817