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2011 (4) TMI 723 - ANDHRA PRADESH HIGH COURTDepreciation @ 40% or 100% - transport vehicle as consisting of two parts, viz., cylinder and vehicle - the container mounted on the chassis of the truck is nothing but a gas cylinder and it fits in the description of the gas cylinder mentioned in Appendix I, Part I, item III(ii)F(4) of rule 5 of the Income-tax Rules, 1962, as the description makes it clear gas cylinder include valves and regulators. The mere fact that the container is mounted on the chassis of the truck does not deprive it of the character of the gas cylinder - Held that: the liquefied petroleum cylinder mounted on the chassis of the truck for all purposes is a gas cylinder including valves and regulators as defined in Appendix I, Part I, item III(ii)F(4) of rule 5 of the Income-tax Rules, 1962. - The assessee is, therefore, entitled to claim depreciation at 100 per cent - Decided in favour of the assessee
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