Excavators, Bull dozers & Wheel Loaders eligible for higher rate of depreciation

CIT Vs Dozco Infratech Pvt. Ltd. (ITAT Kolkata) Assessee shows that depreciation claimed by the Assessee @ 30% on Excavators, Bull dozers and Wheel Loaders has been rightly claimed and should be allowed in full as against @ 15% allowed by the Assessing Officer. Learned departmental representative vehemently contended during the course of hearing that the Assessing Officer had rightly disallowed the assessee’s impugned higher depreciation claim on the ground that it was not a transporter so as to be entitled for higher rate of 30% depreciation on the above stated machinery. It has come on rec...