COMMISSIONER OF INCOME TAX Vs. INDOCOUNT FINANCE LTD

JUDGEMENT

(1.) THIS appeal by the revenue under section 260A of the Income Tax Act is directed against order dated 10 -9 -2002 passed by the Income Tax Appellate Tribunal,. New Delhi in ITA No. 2592 & 1041, /Del/ 99 pertaining to the assessment years 1994 -95 and 1995 -96.

(2.) THE short issue sought to be raised in the appeal is as to whether an assessed, engaged in the business of leasing out commercial vehicles for being run on hire, is entitled to depreciation at the higher rate of 40%.

(3.) IN view of the said decision no substantial question survives for consideration. We accordingly decline to entertain the appeal.