2009 (8) TMI 1156

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... pholding the assessee's claim for depreciation of earth moving equipment, namely, JCB at the rate of 40 per cent which rate is provided for "Motor Buses, Motor Lorries, Motor Taxis" used in the business of running them on hire. The Assessing Officer took the view that earth moving equipment, popularly known as JCB, is not Motor Buses, or Motor Lorries or Motor Taxis, eligible for dep .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... hich is registered as a heavy motor vehicle falls within the expression "motor lorries" and is eligible for depreciation at higher rate of 40 per cent under the above entry. 3. Admittedly JCB which is used on road is registered as a motor vehicle. Though it is not used as a transport vehicle, JCB is a four-wheeled excavator-cum-transport vehicle used for excavation of earth and movement .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ision above referred. We therefore feel that in a larger sense JCB answers the description of Motor Lorry within the meaning of the entry referred above contained in the Income-tax Rules. There is no dispute that the item is not let on hire by the assessee which is one of the items of business carried on by them. The argument of Senior Standing Counsel that the case decided by the Gujarat High Cou .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X