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TMI Blog2022 (5) TMI 1599X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri Sovesh Chandra Mohanty, Addl. CIT (DR) ORDER Per C.M.Garg, JM This is an appeal filed by the revenue and cross objection filed by the assessee against the order of the CIT(A),2, Bhubaneswar dated 24.8.2020 for the assessment year 2010-2011. 2. The revenue is aggrieved by the decision of the Ld CIT(A) in allowing 30% depreciation claimed by the assessee as against 15% to be allowed. 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ciation to the total income of the assessee. 4. On appeal, the CIT(A) allowed depreciation @ 30% to the assessee. Hence, the revenue is in appeal before the Tribunal. 5. We have heard the rival submissions and perused the record of the case. We find that the ld CIT(A) allowed the higher depreciation @ 30% to the assessee by observing as under: "I have carefully examined the appellant's sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Hon'ble Gupta Global Exim Pvt. Ltd. (2008) 305 ITR 132 SC. The Hon'ble Supreme Court held as under: Under sub-item 2(ii) of Item III of Appendix I of the Income Tax Rules, 1962, higher rate of depreciation is admissible on motor trucks used in a business of running them on hire. Therefore, the user of the same in the business of transportation of the assessee is the test. 6.5 Further, in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ortation. Therefore, the ground of appeal is allowed." 6. Ld DR could not controvert the findings of fact that as per circular No.652 dated 14.6.1993, the motor lorries used in assessee's business of transportation of goods on hire is eligible for higher depreciation @ 30%. In view of above, we see no reason to interfere with the order of the ld CIT(A), which is hereby confirmed and the ground of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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