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2005 (8) TMI 82 - HC - Income TaxDepreciation - section 32(1)(ii) - claim to deduction on account of depreciation on imported cars as well as additional depreciation on the Indian made cars owned by the respondent-assessee. - assessee was owning these cars for running them on hire for tourists. – no force in contention of Revenue that that even if the vehicle is used for running on hire, the same is not entitled to the benefit of higher rate of depreciation or in the case of imported cars, ordinary rate of depreciation, merely because the vehicle is run on hire as a business incidental to his main business and is carried on to run the principal business more advantageously. - Tribunal was justified in allowing the deduction on account of depreciation in respect of motor cars manufactured outside India which are acquired by the assessee after February 28,1975- Tribunal was justified to hold that the assessee was engaged in the business of running the motor cars, manufactured inside India, on hire, so as to the assessee is entitled for higher rate of depreciation on such motor cars
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