ABC INDIA LIMITED Vs. DEPUTY CIT

JUDGEMENT

(1.) THIS application under Article 226 of the Constitution of India has been filed to quash the order of assessment dated March 31, 1994, for the assessment year 1991-92 passed by respondent No. 1 rejecting the claim of the petitioners as regards higher depreciation by refusing to follow the circular dated July 29, 1991, and the circular dated June 14, 1993, issued by the Central Board of Direct Taxes clarifying about the rates of depreciation allowable in the case of assessees engaged in the business of transportation of goods on hire.

(2.) THE circular dated July 29, 1991, is annexure-II to the writ application and that is quoted below (see , [1991]191ITR1(Mad) ) :

(3.) THE brief facts are as follows :