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2012 (5) TMI 7 - HC - Income TaxDepreciation @ 40% or 15 % on Tippers, Vibrator and Vibrator Soil Compactor - AO allowed depreciation at the rate of 15% only - Section 32 - held that:- According to explanation, the commercial vehicle is to include heavy goods vehicle, heavy passenger motor vehicle, light motor vehicle, medium goods vehicle but is not to include maxi-cab, motor-cab, tractor and road-roller - The reasoning adopted by the Tribunal would not suffer from any legal infirmity because the Tippers are registered under the Motor Vehicles Act, 1988 (for brevity 'the 1988 Act') as road transport vehicle as would be vibrator and vibrator soil compactor In the case of Karnataka High Court in the case of CIT v. Mahalinga Setty & Co. [1991 (3) TMI 36 - KARNATAKA High Court - Income Tax] has opined against the revenue by giving the benefit of investment allowance to the assessee. If that be so then Vibrator and the Vibrator Soil Compactor would follow the suit because the reasoning adopted is that the vehicles are registered under the 1998 Act and it is essential machinery to carry on the construction work - Decided in favor of the assessee
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