COMMISSIONER OF INCOME Versus KARL AGENCIES - Income Tax - ANDHRA PRADESH HIGH COURT - HC - Depreciation - Held that - Following assessee s own case - Depreciation is allowed on all the trucks as the trucks were given to hirers on the same date when they were purchased and taken delivery - Decided against Revenue. Hiring receipts - Held that - The assessee is liable to tax only in respect of the income part. The assessee has rightly shown 50 percent of the amount received as assessee has received 50 percent t................................... Income Tax - Case Laws
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