https://www.taxtmi.com/caselaws?id=298835 An HUF was treated as eligible for higher depreciation of 50% on a vehicle claimed as a commercial vehicle under Notification No. 10/2009 dated 19.1.2009. The notification applied to new commercial vehicles acquired within the specified period and used for business or profession, and its benefit was extended to individuals; the HUF was covered within that expression. The assessee's assertion that the vehicle was used for business purposes was not controverted by the Revenue, and the remaining conditions for the enhanced rate were found satisfied. The depreciation claim was therefore allowed. en-us Tue, 11 Jun 2013 00:00:00 +0530 Mon, 22 Nov 2021 10:31:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298835 An HUF was treated as eligible for higher depreciation of 50% on a vehicle claimed as a commercial vehicle under Notification No. 10/2009 dated 19.1.2009. The notification applied to new commercial vehicles acquired within the specified period and used for business or profession, and its benefit was extended to individuals; the HUF was covered within that expression. The assessee's assertion that the vehicle was used for business purposes was not controverted by the Revenue, and the remaining conditions for the enhanced rate were found satisfied. The depreciation claim was therefore allowed. Case-Laws Income Tax Tue, 11 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298835