Fork-Lift Trucks Denied Development Rebate Under Income Tax Act; Classified as "Road Transport Vehicles" per Motor Vehicles Act.

No development rebate is allowed for Fork-Lift Trucks under the Income Tax Act, 1961, as they are classified as "Road Transport Vehicles." This classification follows an examination of whether such vehicles fall under the category of road transport, as per the Motor Vehicles Act, 1939. A Fork-Lift Truck, used for transporting materials and operating outside factory premises, is considered a road transport vehicle if registered with transport authorities. The classification depends on its ordinary use by the taxpayer. The decision aligns with previous instructions and legal opinions regarding similar vehicles like Dumpers and Tippers.

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