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1994 (10) TMI 48 - HC - Income TaxExtract: ....... received by the assessee from the hire of the ambulance van are also assessed under the head Business . Hence, the assessee is entitled to depreciation at the rate of 40 per cent. We do not see any reason to take a different view as we agree with the reasoning and conclusion of the Tribunal in this regard, Hence, the present petition is dismissed.
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