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2021 (10) TMI 121 - KERALA HIGH COURTDepreciation on the vehicles used by the assessee - @15% OR 30% - vehicles for which depreciation is claimed are stated as oil tankers transporting fuel from Indian Oil Corporation Ltd (IOCL) and Bharat Peroleum Corporation Ltd. (BPCL) to the retail outlets - HELD THAT:- Entitlement of depreciation at 30% of the motor vehicles/tankers used by the assessee for running the business is no more res integra and considered in favour of the assessee in the appeal filed by the assessee - See USHA JOHNSON PROPRIETRIX, M/S. GLOBAL ROADWAYS, (NOW KNOWN AS MARUTHAYATH TRANSPORTS) [2020 (11) TMI 1015 - KERALA HIGH COURT]. - Decided against revenue.
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