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2023 (7) TMI 341 - AT - Income TaxHigher rate of depreciation on dumpers - @30% OR 15% - vehicle/dumpers were given on hire - HELD THAT:- To claim higher depreciation it is required that goods transported must belong to someone else and use of motor vehicles for transportation is a key to claim higher depreciation. After perusal of material on record we find that the assessee is engaged in providing equipment and motor vehicle on hire. As relying in assessee’s own case for the earlier assessment years 2011-12 to 2013-14 we have no hesitation in following the same, and allow the benefit of higher rate of depreciation @ 30% on Dumper, Tipper etc. Thus the grounds raised by the Revenue is devoid of merits.
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