https://www.taxtmi.com/caselaws?id=461138 Dumpers used in a road construction business were held to qualify for depreciation at 30% as machinery or tools under the depreciation schedule in Rule 5 of the Income-tax Rules, rather than being restricted to 15% as road transport vehicles. The Court followed an earlier decision on identical facts, finding no distinguishing feature, and rejected the Revenue's narrower classification. The revision under section 263 of the Income-tax Act, 1961 was therefore not justified on this issue, and the assessee's entitlement to the higher depreciation rate was upheld. en-us Wed, 03 Jul 2002 00:00:00 +0530 Mon, 17 Mar 2025 11:25:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461138 Dumpers used in a road construction business were held to qualify for depreciation at 30% as machinery or tools under the depreciation schedule in Rule 5 of the Income-tax Rules, rather than being restricted to 15% as road transport vehicles. The Court followed an earlier decision on identical facts, finding no distinguishing feature, and rejected the Revenue's narrower classification. The revision under section 263 of the Income-tax Act, 1961 was therefore not justified on this issue, and the assessee's entitlement to the higher depreciation rate was upheld. Case-Laws Income Tax Wed, 03 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461138