Depreciation claim on its commercial vehicle - The tippers used ...

Assessee Claims 30% Depreciation on Tippers Used in Business; Supported by Functional Test Under Motor Vehicles Act, 1988.

January 14, 2020

Case Laws Income Tax AT

Depreciation claim on its commercial vehicle - The tippers used by the assessee in its business are registered under the Motor Vehicles Act, 1988. They met the functional test as the basis for grant of 30% depreciation, and also on the ground that the higher depreciation is on account of rigorous and hard use of commercial vehicles, in comparison to the stationery and permanently installed machinery.

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Depreciation claim on its commercial vehicle - The tippers used ...

Assessee Claims 30% Depreciation on Tippers Used in Business; Supported by Functional Test Under Motor Vehicles Act, 1988.

January 14, 2020

Case Laws Income Tax AT

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