Higher rate of depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 November 2013
Hi all
The assesse is a member in lorry union.He transports goods(belongs to others not his own).He transports goods through trucks owned by him.He ALSO transports goods in RETURN JOURNEY.That means in return also the truck is loaded with goods.On this hire charges were received.Is he eligible to claim higher rate of depreciation @30%.Plz tell me case law which i have to refer.
The assesse is a member in lorry union.He transports goods(belongs to others not his own).He transports goods through trucks owned by him.He ALSO transports goods in RETURN JOURNEY.That means in return also the truck is loaded with goods.On this hire charges were received.Is he eligible to claim higher rate of depreciation @30%.Plz tell me case law which i have to refer.
19 November 2013
You may refer the judgement of Gauhati High Court.
A.B.C. India Ltd. vs Commissioner Of Income-Tax 1997 226 ITR 914 Gauhati
A.B.C. India Ltd. vs Commissioner Of Income-Tax 1997 226 ITR 914 Gauhati
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