1990 (2) TMI 38 - HC - Income Tax

Summary

The High Court of Rajasthan issued notices to the assessee regarding a question of law on depreciation of trucks. The Tribunal was directed to refer the case to the court for its opinion. The question was whether the assessee-firm, engaged in transportation business, was entitled to depreciation on trucks at 40% instead of 30% allowed by the Income-tax Officer.