Swift Dzire classifiable as LMV & eligible for additional depreciation

Authorised Representative: Utsav R. Doshi, Chartered Accountant

ITAT Rajkot E-Bench knocks down CIT(A) order. Held that Swift Dzire is a motor-car which is classifiable as “LMV”, and therefore additional depreciation was permissible.

Issue under Appeal

Whether the assessee is entitled to claim depreciation at the rate of 50% on Maruti Shift car purchased by it during the accounting year relevant to the assessment year and used for the purpose of the business.

Brief Facts

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