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2014 (9) TMI 573 - HC - Income TaxEntitlement for claim of depreciation on tanker – Tanker not used during the year - Held that:- The Tribunal rightly was of the view that the tanker was not used during the accounting year - there was a discrepancy even about the in the hire charges said to have been received by the assessee for transport of water - The explanation that was offered on behalf of the assessee that the tanker was used for transporting water on hire, to check the leakages, if any, the hire charges were allowed to be taken by the driver cannot be accepted - the tanker was not used during the closure of the accounting year – thus, the order of the Tribunal denying the depreciation is upheld – Decided against the assessee.
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