https://www.taxtmi.com/caselaws?id=415600 The Court upheld the authorities' decision to reject the appellant's claim for additional depreciation for school buses, emphasizing that the primary consideration for eligibility is the actual business use of vehicles, not just the inclusion of income in the business category. Relying on the precedent set by the Supreme Court, the Court ruled in favor of the Revenue, highlighting that vehicles must be used in the business of the assessee to qualify for enhanced depreciation rates under the Income Tax Act. en-us Tue, 02 Nov 2021 00:00:00 +0530 Thu, 23 Jun 2022 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415600 The Court upheld the authorities' decision to reject the appellant's claim for additional depreciation for school buses, emphasizing that the primary consideration for eligibility is the actual business use of vehicles, not just the inclusion of income in the business category. Relying on the precedent set by the Supreme Court, the Court ruled in favor of the Revenue, highlighting that vehicles must be used in the business of the assessee to qualify for enhanced depreciation rates under the Income Tax Act. Case-Laws Income Tax Tue, 02 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415600