2006 (2) TMI 133

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..... n other business, the assessee is entitled to 40 per cent. depreciation as provided in the Appendix and not at 20 per cent. as wrongly held by the Assessing Officer. - It is immaterial whether the vehicles are hired to a sister concern or to a third party or to a total stranger. - - - - - Dated:- 20-2-2006 - Judge(s) : P. VISHWANATHA SHETTY., N. KUMAR. JUDGMENT The judgment of the court wa .....

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..... ack to the residence, the motor vehicles for its sister concern. The assessee claimed depreciation at 40 per cent. The Assessing Officer restricted the depreciation to 20 per cent. on the ground that the assessee is entitled to 40 per cent. depreciation only when the motor vehicles are hired to public and not to its sister concern. Aggrieved by the said order, the assessee preferred an appeal to t .....

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..... d motor taxis used 40" in a business of running them on hire. ------------------------------------------------------------ The reading of the aforesaid provisions makes it clear that 20 per cent. is the depreciation allowable in respect of motor cars other than those used in the business of running them on hire. Whereas, 40 per cent. is the depreciation allowed in respect of motor buses, lorr .....

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