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2014 (11) TMI 814 - HC - Income TaxAllowability of depreciation on gas toner - Whether the Tribunal is right in confirming the order passed by the CIT(A) holding that depreciation on gas toner is allowable at the rate of 100% treating the same as gas cylinders, as against depreciation at the rate of 25% granted by the AO – Held that:- As decided in assesse’s own case for the earlier assessment year, it has been held that the Tribunal rightly allowed 100% depreciation on the gas cylinder which was mounted on vehicle, the gas cylinder had a capacity of more than 1000 kg., still Tribunal held it to be gas cylinder because it was used for transporting gas – the order of the Tribunal is upheld – Decided against revenue.
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