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2017 (1) TMI 1333 - AT - Income TaxDepreciation on JCB Excavator, Motor Grader and Soil Compactor used in the business of construction of road exclusively - @ 15% OR 50% - Held that:- The issue of allowability of depreciation on JCB and other equipments has been decided by the Hon’ble Kerala High Court in the case of CIT vs. Galord Constructions (2009 (8) TMI 1156 - KERALA HIGH COURT ) it can be safely inferred that two views have been expressed by the different High courts and the Coordinate Benches. It is settled position of law by the judgment of Hon’ble Supreme Court rendered in the case of Vegetable Products Ltd. (1973 (1) TMI 1 - SUPREME Court) that if there are two views possible, then the view which favours the assessee has to be adopted. Respectfully following the judgment of Hon’ble Apex Court , we hereby direct the AO to allow the depreciation @ 50%.
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