https://www.taxtmi.com/caselaws?id=413069 Motor lorries and tankers used in a transport business were treated as vehicles used in a business of running them on hire, so the assessee qualified for higher depreciation under the relevant depreciation entry in Appendix I to the Income-tax Rules, 1962. The Court followed its earlier decision involving the same assessee and applied that position to the present claim. The Revenue's contrary view was rejected, and the higher depreciation rate of 30% was held allowable. en-us Fri, 03 Sep 2021 00:00:00 +0530 Sat, 02 Oct 2021 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413069 Motor lorries and tankers used in a transport business were treated as vehicles used in a business of running them on hire, so the assessee qualified for higher depreciation under the relevant depreciation entry in Appendix I to the Income-tax Rules, 1962. The Court followed its earlier decision involving the same assessee and applied that position to the present claim. The Revenue's contrary view was rejected, and the higher depreciation rate of 30% was held allowable. Case-Laws Income Tax Fri, 03 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413069