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2023 (12) TMI 1118 - ITAT SURAT
Excess depreciation claimed on crawler cranes - depreciation @ 30% OR 15% - assessee–company is engaged in the business of material handling and erection of heavy equipment on contract basis and providing equipment on hire during the year under consideration - whether the cranes are to be considered as 'Motor lorries' and be allowed depreciation @ 30% or be treated as machinery and allowed depreciation @ 15%? - HELD THAT:- As relying on Gujco Carriers vs. CIT [2002 (2) TMI 48 - GUJARAT HIGH COURT] assessee can claim higher depreciation on cranes @ 30%, therefore, we do not find any infirmity in the conclusion reached by ld CIT(A). That being so, we decline to interfere with the order of Id. CIT(A) in deleting the aforesaid additions. His order on this addition is, therefore, upheld and the grounds of appeal of the Revenue are dismissed.