1978 (9) TMI 113 - AT - Income Tax

Summary

The appeal was about the percentage of depreciation on three-wheeler vehicles. The assessee claimed 30% depreciation, but authorities allowed only 20%. The ITAT Madras held that three-wheelers used for transporting goods qualify as "motor lorries" and are entitled to 30% depreciation. The appeal was allowed, and depreciation at 30% was directed to be allowed. (Case: Appellate Tribunal ITAT MADRAS-B, Citation: 1978 (9) TMI 113 - ITAT MADRAS-B)