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TMI Blog2007 (6) TMI 172X X X X Extracts X X X X X X X X Extracts X X X X ..... vehicles on hire – revenue’s appeal dismissed - 492 of 2007 - - - Dated:- 9-6-2007 - P. D. DINAKARAN and P. P. S. JANARTHANA RAJA JJ. T. Ravikumar for the appellant. JUDGMENT The judgment of the court was delivered by P. D. DINAKARAN J. 1. The above tax case appeal is directed against the order of the Income-tax Appellate Tribunal in I. T. A. No. 1538/Mds/2004 dated February 17, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the Revenue, was confirmed by the Income-tax Appellate Tribunal. 4. Aggrieved by the same, the Revenue has preferred the above appeal raising the following substantial question of law "Whether the assessee which only leased out the vehicle and did not subject it to usage of its own is entitled for higher depreciation ?" 5. Mr. T. Ravikumar, learned standing counsel appearing for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ries owned by the assessee, and received consideration therefor in the form of lease rentals, the assessee was using those vehicles in the business of running them on hire and was, therefore, entitled to the higher rate of depreciation." 7. In view of the above settled proposition, finding no substantial question of law that arises for consideration, the tax case appeal stands dismissed. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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