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Case Law Details

Case Name : Technoblast Mining Corporation Vs PCIT (ITAT Raipur)
Related Assessment Year : 2017-18
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Technoblast Mining Corporation Vs PCIT (ITAT Raipur)

ITAT Raipur held that additional depreciation under section 32 of the Income Tax Act on heavy vehicle not admissible when vehicles are used in own business and not on hire.

Facts- The assessee is a firm, engaged in the business of mining contract. Assessment order u/s 143(3) of the Act was passed after making addition of Rs. 47,47,725/-, determining the total assessed income as Rs. 8,10,35,255/-.

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