Tag: higher depreciation

Higher rate of depreciation allowable on crane. So long as crane is registered under the Motor Vehicles Act, it is a motor vehicle. ABCAUS Case Law Citation:ABCAUS 3191 (2019) (11) ITAT Important case law relied upon by the parties:CIT Vs. Gaylord Constructions Gujco Carriers Vs. CIT 122 taxman …

CBDT allows higher depreciation on motor cars, buses, lorries & taxis with retrospective effect in a bid to support slump struck automobile sectors CBDT allows higher depreciation on automobiles with retrospective effect MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 69 /2019 New Delhi, the …

Mere transporting goods to customers not enough to claim higher depreciation unless assessee is in business of transportation or running trucks on hire ABCAUS Case Law Citation: ABCAUS 2925 (2019) (05) ITAT The appeal was filed by the Department (the Revenue) against the order of the Commissioner of …