https://www.taxtmi.com/caselaws?id=461147 ITAT Ahmedabad upheld CIT(A)'s decision allowing 30% depreciation on dumpers and tippers used by assessee engaged in mining and transportation activities under composite contract. The tribunal found assessee fulfilled conditions for higher depreciation rate, rejecting AO's restriction to 15%. However, regarding disallowance of interest on statutory liabilities (TDS, service tax, VAT, GST, entry tax), the matter was remanded to AO for verification whether such interest payments were compensatory or penal in nature, following precedents from SC and Mumbai ITAT. en-us Fri, 31 May 2024 00:00:00 +0530 Mon, 17 Mar 2025 10:19:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461147 ITAT Ahmedabad upheld CIT(A)'s decision allowing 30% depreciation on dumpers and tippers used by assessee engaged in mining and transportation activities under composite contract. The tribunal found assessee fulfilled conditions for higher depreciation rate, rejecting AO's restriction to 15%. However, regarding disallowance of interest on statutory liabilities (TDS, service tax, VAT, GST, entry tax), the matter was remanded to AO for verification whether such interest payments were compensatory or penal in nature, following precedents from SC and Mumbai ITAT. Case-Laws Income Tax Fri, 31 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461147