https://www.taxtmi.com/caselaws?id=461144 The Tribunal upheld the CIT (A)'s decision, affirming that the assessee is entitled to a higher depreciation rate of 30% for vehicles used in garbage transportation services, aligning with the precedent set by the Bombay HC. The Tribunal found that the vehicles were integral to the business operations, qualifying as transportation services on hire. Additionally, the Tribunal confirmed that CBDT Circulars No. 609 and 652 support the assessee's claim, as they align with the classification of the business as involving transportation services, thereby justifying the higher depreciation rate. en-us Thu, 27 Nov 2014 00:00:00 +0530 Mon, 17 Mar 2025 18:34:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461144 The Tribunal upheld the CIT (A)'s decision, affirming that the assessee is entitled to a higher depreciation rate of 30% for vehicles used in garbage transportation services, aligning with the precedent set by the Bombay HC. The Tribunal found that the vehicles were integral to the business operations, qualifying as transportation services on hire. Additionally, the Tribunal confirmed that CBDT Circulars No. 609 and 652 support the assessee's claim, as they align with the classification of the business as involving transportation services, thereby justifying the higher depreciation rate. Case-Laws Income Tax Thu, 27 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461144