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2011 (8) TMI 865 - HC - Income TaxDepreciation at higher rate - in respect of assets given on lease by the assessee - Division Bench of this court in Tax Appeal No.100 of 2000 decided on 1.4.2011, held that higher rate of depreciation was not available to the assessee and the vehicles would be eligible only for normal rate of depreciation - The issue ultimately reached the Tribunal which confirmed the view of the Revenue authorities denying higher depreciation to the assessee on the terms that the assessee was not carrying on the business of hiring of the vehicle - Decided in favor of the revenue
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