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2020 (4) TMI 609 - AT - Income TaxExcessive rate of depreciation claimed on concrete pumps, Equipment & Vehicle - @ 40% OR 15% - assessee by fixing the equipment i.e Concrete Pump etc. has made it a mobile Concrete Pump vehicle, which is a requirement for the business of the assessee and that the assessee has rightly claimed the depreciation @ 40% - HELD THAT:- Concrete Pump etc. have been fitted by the assessee as per his own convenience but the same cannot be said to be a part of the commercial vehicle, whereas, the ‘Chassis’ fitted on the vehicle is a part and parcel of the vehicle. In view of the above, the claim of the assessee of depreciation @ 40% on Concrete Pump and other related equipment, has rightly been reduced / disallowed by the lower authorities and the same has rightly been allowed @ 15%. So far as the ‘Chassis’ is concerned, since the same is part and parcel of the vehicle, the assessee is entitled to depreciation @ 40%.
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