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2015 (10) TMI 1406 - AT - Income TaxDisallowance of part of depreciation claimed on vehicles - Held that:- Since the financial statements clearly prove that the assessee has received rental receipts on hiring of vehicles, we are of the view that the assessee is entitled to higher rate of depreciation at the rate of 30 per cent. Accordingly, we set aside the order of the learned Commissioner of Income-tax (Appeals) on this issue and restore the issue to the file of the Assessing Officer with a direction to allow depreciation on vehicles at the rate of 30 per cent. - Decided in favour of assessee for statistical purposes.
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