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Principal Commissioner of Income Tax, (Central) -1, Kol. Versus M/s. Bothra Shipping Services Pvt. Ltd.

2016 (9) TMI 1189 - CALCUTTA HIGH COURT

Depreciation on pay loaders - nature of asset - Held that:- Pay loaders are used on hire for excavation of soil and are also used equally for transport of the excavated soil. Pay loaders are also registered as “motor vehicles” with the road transport .....

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Appellant ORDER The Court : The subject matter of challenge is a judgment and order dated 19th December, 2014 by which the learned Income Tax Appellate Tribunal, B Bench, Kolkata in ITA Nos.58-61/Kol/2013 pertaining to the assessment years 2004-05 t .....

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e were allowed. Briefly stated the dispute was whether pay loaders are covered by the expression motor lorries so that the assessee is entitled to depreciation at a higher rate. Initially, the assessing officer had allowed the claim holding that the .....

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er under section 147 was passed, which was successfully challenged by the assessee before the CIT(A). In allowing the appeal of the assessee, the CIT(A) was of the opinion that pay loaders are used on hire for excavation of soil and are also used equ .....

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