2021 (10) TMI 121

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..... ion at 30% of the motor vehicles/tankers used by the assessee for running the business is no more res integra and considered in favour of the assessee in the appeal filed by the assessee - See USHA JOHNSON PROPRIETRIX, M/S. GLOBAL ROADWAYS, (NOW KNOWN AS MARUTHAYATH TRANSPORTS) [ 2020 (11) TMI 1015 - KERALA HIGH COURT] . - Decided against revenue. - ITA NO. 12 OF 2021 - - - Dated:- 3-9-2021 - .....

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..... eturn filed by the assessee for the Assessment Year 2008-09. The assessee raises the following substantial questions of law: i. Whether in the facts and in the circumstances of this case the Appellate Tribunal was justified in dismissing the appeal filed by the Appellant holding that the appellant is not eligible for claiming higher depreciation provided under Clause III (3) (ii) of the Append .....

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..... tankers transporting fuel from Indian Oil Corporation Ltd (IOCL) and Bharat Peroleum Corporation Ltd. (BPCL) to the retail outlets. The Schedule in the Act reads thus: III. Machinery and Plant (1) Machinery and plant other than those covered by sub-items (2), (3) and (8) below: (2) Motor cars, other than those used in a business of running them on hire, acquired or put to use on or .....

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