TMI Blog2002 (9) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... gh the assessee had not proved the fact that the assets were used for the purpose of business during the relevant accounting year?" The question referred to us is answered in favour of the Revenue and against the assessee. - Tax Case No 502 of 1996 . - - - Dated:- 5-9-2002 - Judge(s) : R. JAYASIMHA BABU., K. RAVIRAJA PANDIAN. JUDGMENT The judgment of the court was delivered by R. JAYASIM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... did not produce any proof of having used those cars for its business before the end of March 31, 1989. The assessee's claim for depreciation of these vehicles was negatived by the Assessing Officer. That order was affirmed by the appellate authority. The Tribunal, on further appeal, however, has held that depreciation is to be allowed by observing that the assessee as a businessman would have d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d for being brought on roads, and there was no evidence of having used those cars before the end of the accounting year in the business of the assessee, the Tribunal was clearly in error in holding that the assessee was entitled to depreciation in respect of these vehicles. The question referred to us is answered in favour of the Revenue and against the assessee. - - TaxTMI - TMITax - Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X
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