Depreciation on Motor Vehicles


Last updated: 26 May 2009

Court :
Supreme Court

Brief :
Depreciation — Higher depreciation could not be allowed on the motor trucks used in business of running them on hire, unless there is an evidence that the assessee was in the business of hiring out motor vehicles.

Citation :
CIT v. Gupta Global Exim P. Ltd (2008)305 ITR 132 (SC)

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