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2006 (2) TMI 133 - HC - Income TaxDepreciation for the motor vehicles which are used in business of running them on hire - When once on the facts it was found that the assessee was carrying on the business of hiring its vehicles, and they were not used for its own other business, the assessee is entitled to 40 per cent. depreciation as provided in the Appendix and not at 20 per cent. as wrongly held by the Assessing Officer. - It is immaterial whether the vehicles are hired to a sister concern or to a third party or to a total stranger.
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