https://www.taxtmi.com/caselaws?id=402028 The High Court dismissed the Tax Appeal challenging the rate of depreciation on dumpers for the Assessment Year 2011-12. The Court upheld the decision of the Income Tax Appellate Tribunal allowing a higher rate of depreciation at 30% instead of the 15% initially granted by the Assessing Officer. Emphasizing the need for a substantial question of law, the Court found the issue not substantial based on previous decisions and the facts of the case, leading to the dismissal of the appeal. This case clarifies the interpretation of depreciation rates on dumpers under the Income Tax Act, stressing consistency in decisions and the requirement for substantial legal questions to be addressed. en-us Thu, 03 Dec 2020 00:00:00 +0530 Mon, 21 Dec 2020 17:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402028 The High Court dismissed the Tax Appeal challenging the rate of depreciation on dumpers for the Assessment Year 2011-12. The Court upheld the decision of the Income Tax Appellate Tribunal allowing a higher rate of depreciation at 30% instead of the 15% initially granted by the Assessing Officer. Emphasizing the need for a substantial question of law, the Court found the issue not substantial based on previous decisions and the facts of the case, leading to the dismissal of the appeal. This case clarifies the interpretation of depreciation rates on dumpers under the Income Tax Act, stressing consistency in decisions and the requirement for substantial legal questions to be addressed. Case-Laws Income Tax Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402028