https://www.taxtmi.com/caselaws?id=444326 The tribunal upheld the Principal Commissioner of Income Tax's order, confirming that the original assessment was erroneous and prejudicial to the interest of revenue. Consequently, the assessee's appeal was dismissed. The delay in filing the appeal was condoned due to valid reasons, but the higher depreciation claim on heavy vehicles was disallowed as the assessee failed to prove they were used on hire as required by law. en-us Wed, 13 Sep 2023 00:00:00 +0530 Fri, 13 Oct 2023 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444326 The tribunal upheld the Principal Commissioner of Income Tax's order, confirming that the original assessment was erroneous and prejudicial to the interest of revenue. Consequently, the assessee's appeal was dismissed. The delay in filing the appeal was condoned due to valid reasons, but the higher depreciation claim on heavy vehicles was disallowed as the assessee failed to prove they were used on hire as required by law. Case-Laws Income Tax Wed, 13 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444326