‘Personal Use’ has significant role in granting Depreciation on any Vehicle: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the element of personal use has a significant role to play while granting depreciation on any vehicle under Section 32 of the Income Tax Act, 1961. The assessee engaged in the business of contractor for Mahanagar Telephone Nigam Limited. The Assessing Officer […]

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