https://www.taxtmi.com/caselaws?id=444966 The ITAT Jodhpur allowed the assessee's appeal on depreciation claims, ruling that lorry hire vehicles qualify for 30% depreciation rate rather than the 15% rate applied by the AO, following the precedent in Amar Singh Bhandari case. The tribunal also allowed development charges as deductible expenses, citing Udaipur Mineral Development Syndicate precedent, holding that amounts debited under mercantile accounting system with corresponding liability entries are allowable. Regarding Section 80IA deduction, the matter was remanded to CIT(A) for fresh adjudication after the appellate authority failed to consider the assessee's additional ground submission during appeal proceedings. en-us Thu, 12 Oct 2023 00:00:00 +0530 Thu, 26 Oct 2023 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444966 The ITAT Jodhpur allowed the assessee's appeal on depreciation claims, ruling that lorry hire vehicles qualify for 30% depreciation rate rather than the 15% rate applied by the AO, following the precedent in Amar Singh Bhandari case. The tribunal also allowed development charges as deductible expenses, citing Udaipur Mineral Development Syndicate precedent, holding that amounts debited under mercantile accounting system with corresponding liability entries are allowable. Regarding Section 80IA deduction, the matter was remanded to CIT(A) for fresh adjudication after the appellate authority failed to consider the assessee's additional ground submission during appeal proceedings. Case-Laws Income Tax Thu, 12 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444966