ELIGIBILITY TEST FOR ALLOWING HIGHER RATE OF DEPRECIATION ON
Last updated: 18 September 2008
Court :
SUPREME COURT OF INDIA
Brief :
Higher rate of depreciation under sub-item 2(ii) of Item III of Appendix-I to the Income-tax Rules, 1962 is admissible on motor trucks used in a business of running them on hire; therefore, the user of the same in the business of the assessee of transportation is the test.
Citation :
CIT
v.
Gupta Global Exim (P.) Ltd.
Civil Appeal No. 3342 of 2008
May 6, 2008
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CHEZHIYAN
Published in Income Tax
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