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2009 (2) TMI 163 - RAJASTHAN HIGH COURTDepreciation on compressor – Whether claim of higher rate of depreciation mandatory in the return - The assessee filed its return and claimed depreciation on the compressor at 30 per cent. being used in mines and quarries. The Income-tax Officer allowed 10 per cent. depreciation holding that under the Income-tax Rules, no such rate has been prescribed in respect of this item of machinery Held that - If the compressor is used for mining and quarries, depreciation has to be allowed to the extent of 30 per cent - the petitioner has no rebuttal to it – petitioner disputed it by submitting that it can be allowed only if it has been claimed by the assessee under this head - Record possessed by the learned counsel for the petitioner do not spell out whether in the assessment, it has been claimed under this particular entry - If, in the assessment, the assessee has claimed depreciation under entry No. 8, as stated above, the assessee in that event is entitled to the depreciation at 30 per cent – matter remanded to ITO of examination of facts.
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