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2005 (3) TMI 26 - HC - Income Tax"1. Whether, was right in law in holding that the amount of ₹ 82,42,876 being the excess levy sugar price was not taxable in the hands of the assessee-company in the year under consideration? 2. Whether was right in law in deleting the disallowance of ₹ 5,80,098 on account of interest on excess levy price charged by the assessee? 3. Whether Tribunal was right in law in directing the Income-tax Officer to allow depreciation in the case of the trailers at the rate admissible in the case of transport vehicles even though the trailers are not motorized vehicles?" - it is clear that the trailer is a motor car and is used for both the purposes, namely, carrying of passengers and goods. Therefore, it will fall within the category of motor lorries. The Tribunal was right in allowing depreciation at the rate of 30 per cent, treating it to be a transport vehicle - we answer questions Nos. 1 and 3 referred to us in the affirmative, i.e., in favour of the assessee and against the Department and question No. 2 in the negative, i.e., in favour of the Revenue and against the assessee
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