https://www.taxtmi.com/caselaws?id=25549 The court upheld the decision to reject the claim for depreciation on new trucks purchased by the assessee for the year 1969-70. The rejection was based on the grounds that depreciation had already been considered in estimating the income from contract work, and thus, claiming depreciation separately was not justified. The court emphasized that the rejection was not due to lack of details but rather the principle that depreciation had already been factored into the overall income calculation. Consequently, the Tribunal's decision in favor of the Revenue was upheld, with costs assessed at Rs. 300. en-us Tue, 16 Dec 1986 00:00:00 +0530 Fri, 29 Jan 2010 13:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25549 The court upheld the decision to reject the claim for depreciation on new trucks purchased by the assessee for the year 1969-70. The rejection was based on the grounds that depreciation had already been considered in estimating the income from contract work, and thus, claiming depreciation separately was not justified. The court emphasized that the rejection was not due to lack of details but rather the principle that depreciation had already been factored into the overall income calculation. Consequently, the Tribunal's decision in favor of the Revenue was upheld, with costs assessed at Rs. 300. Case-Laws Income Tax Tue, 16 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25549