NIRMALJIT KAUR,J. - (1.) The present appeal under Section 260-A of the Income Tax Act, 1961 is directed against the judgment and order dated 14.09.2017 passed by the Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur (hereinafter referred as the 'Tribunal') by which, the assessee's appeal was allowed.
(2.) Briefly stated the facts within the precincts of the questions canvassed before this court are that the assessment of the respondent-assessee for the Assessment Year 2011-2012 was completed on 03.08.2015. During the course of assessment proceedings, the Assessing Officer disallowed depreciation to the tune of Rs. 12,03,668/-, as claimed by the assessee on dumper and Volvo, inter alia, observing that the higher rate of depreciation (30%) was not permissible, as the assessee had his own mining business also.
(3.) Against the disallowance of the depreciation aforesaid, the assessee filed an appeal which came to be rejected by the Commissioner (Appeals) (hereinafter referred to as the "Appellate Authority"), vide his order dated 13.12.2016. The Appellate Authority repelled the assessee's contention and affirmed the action of the Assessing Officer (AO) in confining the claim of the depreciation. He, however, additionally observed that the higher rate of depreciation was applicable only for motor buses, motor lorries and motor taxies used in the business of renting them on hire.;