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2009 (1) TMI 20 - HC - Income TaxRevenue allege that Tribunal erred in allowing higher depreciation @ 50%/40% on the value of trucks/dumpers owned by the assessee – revenue contend that assessee was only a civil contractor & was not engaged in the business of, wisely out asset i.e. trucks/dumpers transportation - In view of Circular No. 609, higher rate of depreciation is also admissible when the motor lorry is used by the assessees in his own business of transportation of goods on hire – no infirmity in tribunal’s order
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