https://www.taxtmi.com/caselaws?id=57614 Motor buses plying on fixed routes and carrying passengers for separate fares were not treated as vehicles used in a business of running them on hire under the depreciation schedule. The higher rate applied only where the vehicle itself was let out on hire, such as chartered or contract buses, while ordinary stage-carriage buses fell within the lower residual rate. The schedule's wording was decisive, and reference to motor vehicle taxation rules or dictionary meanings did not expand the concession. The buses were therefore entitled only to depreciation at 33 1/3%, not 50%. en-us Thu, 11 Nov 1993 00:00:00 +0530 Sat, 11 Dec 2010 11:33:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57614 Motor buses plying on fixed routes and carrying passengers for separate fares were not treated as vehicles used in a business of running them on hire under the depreciation schedule. The higher rate applied only where the vehicle itself was let out on hire, such as chartered or contract buses, while ordinary stage-carriage buses fell within the lower residual rate. The schedule's wording was decisive, and reference to motor vehicle taxation rules or dictionary meanings did not expand the concession. The buses were therefore entitled only to depreciation at 33 1/3%, not 50%. Case-Laws Income Tax Thu, 11 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57614