https://www.taxtmi.com/caselaws?id=409195 Crawler cranes, trailers, forklifts and dozers used in a hire business were treated as motor vehicles rather than plant and machinery for depreciation purposes. The Tribunal applied the functional character test and relied on the Motor Vehicles Act definition because "motor vehicle" is not defined in the Income-tax Act. It held that these specialised assets, being mechanically propelled and adapted for road use or transport functions, qualified for the higher depreciation rate under the schedule. Permanent registration under the Motor Vehicles Act was held not to be a for the higher claim, and the contrary classification as plant and machinery was rejected. en-us Thu, 10 Jun 2021 00:00:00 +0530 Thu, 01 Jul 2021 08:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409195 Crawler cranes, trailers, forklifts and dozers used in a hire business were treated as motor vehicles rather than plant and machinery for depreciation purposes. The Tribunal applied the functional character test and relied on the Motor Vehicles Act definition because "motor vehicle" is not defined in the Income-tax Act. It held that these specialised assets, being mechanically propelled and adapted for road use or transport functions, qualified for the higher depreciation rate under the schedule. Permanent registration under the Motor Vehicles Act was held not to be a for the higher claim, and the contrary classification as plant and machinery was rejected. Case-Laws Income Tax Thu, 10 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409195