2019 (1) TMI 2051 - SCH - Income Tax

Higher rate of depreciation on dumpers - @ 30% OR 15% - nature of business of the assessee as transporter - Tribunal confirming the findings of the CIT A that the assessee is entitled to higher rate of depreciation @ 30% - As decided in HC 2018 (5) TMI 1172 - GUJARAT HIGH COURT assessee essentially was awarded contract for providing specialized equipments and trained manpower for mining and transportation of excavated minerals on hire the terms of the tender and the eventual contract awarded would suggest that the assessee was given the work of mining. Assessee was essentially required to provide equipments and manpower on hire. Thus no error in the view taken by the Tribunal. HELD THAT - The special leave petition is dismissed on the ground of delay.