https://www.taxtmi.com/caselaws?id=58929 The majority view held that the assessee was entitled to depreciation on two foreign-made cars as they were used in the business of running them on hire for tourists, including both Indian and foreign tourists. The appeal was allowed, quashing the order of the CIT and restoring the ITO's decision to allow the depreciation. en-us Tue, 23 May 1989 00:00:00 +0530 Wed, 22 Dec 2010 18:36:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58929 The majority view held that the assessee was entitled to depreciation on two foreign-made cars as they were used in the business of running them on hire for tourists, including both Indian and foreign tourists. The appeal was allowed, quashing the order of the CIT and restoring the ITO's decision to allow the depreciation. Case-Laws Income Tax Tue, 23 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58929