https://www.taxtmi.com/caselaws?id=60455 The Tribunal allowed the appeal, overturning the lower authorities' decision to allow depreciation at 15% instead of 30% on vehicles leased out by the assessee for the assessment year 2006-07. The Tribunal considered motor cars used for hire as equivalent to motor taxis, entitling them to higher depreciation based on relevant case laws and legal precedents, emphasizing the business purpose of leasing such vehicles. en-us Fri, 08 Jan 2010 00:00:00 +0530 Wed, 07 Sep 2011 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60455 The Tribunal allowed the appeal, overturning the lower authorities' decision to allow depreciation at 15% instead of 30% on vehicles leased out by the assessee for the assessment year 2006-07. The Tribunal considered motor cars used for hire as equivalent to motor taxis, entitling them to higher depreciation based on relevant case laws and legal precedents, emphasizing the business purpose of leasing such vehicles. Case-Laws Income Tax Fri, 08 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60455