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2013 (4) TMI 210 - AT - Income TaxHigher rate of depreciation on security vans - 30% v/s 40% - Held that:- Issue involved in the present case is no more res integra and is covered by decision of of assessee's own case for assessment years 2001-02 to 2003-04 wherein held that under item [2][ii] of heading III PLANT AND MACHINERY of Appendix I of table of rate of depreciation, the higher rate of depreciation is admissible on motor buses, motor lorries and motor taxis used in a business of running them on hire In the present case the assessee has proved that it has used the security vans for transportation of cash valuables etc. It is not the case of the revenue that the assessee has not used the said security vans for its business of transportation of cash, valuables etc., or the same has not been used mainly for business of the assessee of transportation of cash, valuables etc. In case in CIT vs. Gupta Global Exim P. Ltd. [2008 (5) TMI 7 - SUPREME COURT] the assessee's main business was importing timber longs and selling them. Whereas in the case before us, the assessee has proved that the transportation of cash and valuables was its main business. Thus the decision relied on by the DR in CIT vs. Gupta Global Exim P. Ltd [supra] is distinguishable and not applicable to the facts of the present case. That being so the revenue has failed to controvert the finding of the CIT[A] that the assessee is entitled to claim depreciation @ 40% on security vans - Revenue's appeal stands dismissed.
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