https://www.taxtmi.com/caselaws?id=440716 The Tribunal dismissed the Revenue's appeal, upholding the higher depreciation rate of 30% on specific equipment claimed by the Partnership Firm engaged in Earth Moving Equipments and Mining Contractor. The Tribunal found that the assessee's business involved providing specialized equipment and manpower for hire, as evidenced by awarded contracts for mining and transportation tasks. Citing relevant legal precedents and CBDT Circulars, the Tribunal affirmed the Commissioner's decision to allow the higher depreciation rate, in line with the Gujarat High Court's judgment for earlier assessment years. en-us Fri, 21 Jul 2023 00:00:00 +0530 Mon, 24 Jul 2023 16:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440716 The Tribunal dismissed the Revenue's appeal, upholding the higher depreciation rate of 30% on specific equipment claimed by the Partnership Firm engaged in Earth Moving Equipments and Mining Contractor. The Tribunal found that the assessee's business involved providing specialized equipment and manpower for hire, as evidenced by awarded contracts for mining and transportation tasks. Citing relevant legal precedents and CBDT Circulars, the Tribunal affirmed the Commissioner's decision to allow the higher depreciation rate, in line with the Gujarat High Court's judgment for earlier assessment years. Case-Laws Income Tax Fri, 21 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440716