Depreciation @ 30% - buses which were owned by the assessee and ...

Taxpayers using buses for hire can claim a 30% depreciation rate, higher than for personal use vehicles.

November 5, 2019

Case Laws Income Tax HC

Depreciation @ 30% - buses which were owned by the assessee and were being run on hire - the natural meaning of the phrase would apply in the present case and those Assessees who are running automobiles for hire would be liable to claim a higher depreciation than those whose automobiles are meant for their use.

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Depreciation @ 30% - buses which were owned by the assessee and ...

Taxpayers using buses for hire can claim a 30% depreciation rate, higher than for personal use vehicles.

November 5, 2019

Case Laws Income Tax HC

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