Motor Vehicles qualify as Self-Propelled Vehicles: ITAT confirms Deletion of Disallowance of Excess Claim of Depreciation [Read Order]

By Kalyani B. Nair - On May 10, 2023 2:30 pm - 2 mins read

Motor Vehicles - Self-Propelled Vehicles - ITAT - Excess Claim - Claim - Depreciation - Taxscan

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT), confirmed the deletion of disallowance of excess claim of depreciation and noted that motor vehicles qualify as self-propelled vehicles. The Assessing Officer observed that on verification of Tax Audit Report, it was found that, the assessee, Apraava Energy Pvt. Ltd, has claimed depreciation on “self-propelled…

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