https://www.taxtmi.com/caselaws?id=401431 The High Court of Gujarat dismissed the Revenue's appeal in a Tax Appeal under Section 260A of the Income Tax Act, 1961, regarding the interpretation of depreciation rates on dumpers. The Court upheld the decision of the Commissioner of Income Tax (Appeals) to grant a higher rate of depreciation at 30% instead of the 15% allowed by the Assessing Officer. The Court's ruling was influenced by a previous decision on a similar issue, deeming the question of law not substantial and emphasizing consistency in applying depreciation rates. en-us Wed, 02 Dec 2020 00:00:00 +0530 Mon, 07 Dec 2020 11:01:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401431 The High Court of Gujarat dismissed the Revenue's appeal in a Tax Appeal under Section 260A of the Income Tax Act, 1961, regarding the interpretation of depreciation rates on dumpers. The Court upheld the decision of the Commissioner of Income Tax (Appeals) to grant a higher rate of depreciation at 30% instead of the 15% allowed by the Assessing Officer. The Court's ruling was influenced by a previous decision on a similar issue, deeming the question of law not substantial and emphasizing consistency in applying depreciation rates. Case-Laws Income Tax Wed, 02 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401431