2010 (12) TMI 55 - HC - Income Tax

Assessee is doing the business of running the transport vehicle on hire/lease - appeal against the order - of the Income Tax Appellate Tribunal - order of the Tribunal in allowing 40% depreciation on the vehicles - Similar appeals of the Income Tax Department against the assesee for the different assessment years have also been dismissed by this court - no merit in this appeal. It is accordingly dismissed

Summary

The High Court of Allahabad dismissed the appeal against the Income Tax Appellate Tribunal's order allowing 40% depreciation on vehicles used for transport business. The court noted that similar appeals by the Income Tax Department against the assessee for different assessment years were also dismissed. The appeal was found to have no merit and was accordingly dismissed.