https://www.taxtmi.com/caselaws?id=297958 The Tribunal dismissed the appeals, affirming the decision to restrict the depreciation claim on vehicles to 15% instead of the claimed 30%. The Tribunal concluded that the nature of the business conducted was not solely vehicle hiring but a contract business, leading to the denial of the higher depreciation rate. en-us Fri, 28 Feb 2020 00:00:00 +0530 Sat, 02 Oct 2021 10:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297958 The Tribunal dismissed the appeals, affirming the decision to restrict the depreciation claim on vehicles to 15% instead of the claimed 30%. The Tribunal concluded that the nature of the business conducted was not solely vehicle hiring but a contract business, leading to the denial of the higher depreciation rate. Case-Laws Income Tax Fri, 28 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297958