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Income Tax - Highlights / Catch Notes

Home Highlights June 2016 Year 2016 This

Higher rate of depreciation on account of hiring of vehicles - ...


Taxpayer Ineligible for Higher Depreciation Rate on Hiring Vehicles; No Rectification u/s 154 of Income Tax Act.

June 30, 2016

Case Laws     Income Tax     AT

Higher rate of depreciation on account of hiring of vehicles - Since the issue in the instant case is a highly debatable issue, i.e. whether the assessee is entitled to higher rate of depreciation on account of hiring of vehicles, therefore, we are of the considered opinion that it is not a case for rectification u/s.154 - AT

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