Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (5) TMI 1172 - HC - Income TaxHigher rate of depreciation on dumpers - @ 30% OR 15% - nature of business of the assessee as transporter - Tribunal confirming the findings of the CIT [A] that the assessee is entitled to higher rate of depreciation @ 30% - Held that:- From the material available on record though the assessee essentially was awarded contract for providing specialized equipments and trained manpower for mining and transportation of excavated minerals on hire, the terms of the tender and the eventual contract awarded would suggest that the assessee was given the work of mining. The assessee was essentially required to provide equipments and manpower on hire. In view of such discussion, we find no error in the view taken by the Tribunal. Even if the assessee had used such equipments and manpower for its direct mining operations for the contract, if it was so awarded, we wonder whether that would make any difference particularly in view of CBDT Circulars No. 609 and 652 and the decision in case of I.C.D.S Limited v. Commissioner of Income-Tax & Anr. [2013 (1) TMI 344 - SUPREME COURT]. However, when this issue does not arise for direct consideration, we need not conclude the same. No error in the view taken by the Tribunal - Decided against revenue
|