1988 (5) TMI 290

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..... ed on 29th 30th May, 1988. 2. They reiterated the contexts of the appeal but in particular stated that it was erroneous for the A.C. to hold that beyond fourth year of its use there is no depreciation in a car; that the A.C. should not have ignored the valuation of the car equivalent to DM 9120 as determined by M/s. Coopmaxt Partner the Company through whom the second-hand car was purchased by .....

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..... h year. According to the appellant this depreciation should be for 5th year 1.75% and 1.5% per quarter thereafter. They also contest the conclusion of the A.C. that the car being in a very good condition no depredation beyond fourth year was necessary, since, A.C. is neither an export nor outward appearance of car can to be an index of its inherent value for one thing at least that is the mere yea .....

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..... ue of a car goes down in the market depending upon the year of the manufacture itself. Bends there ought to be some deterioration in subsequent years howsoever well a car can be kept. However the depreciation beyond fourth year must be decided on the merits of each case. The car here is admittedly seven years old at the time of importation. It is substantially older than the limit of fourth year p .....

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