Source: http://www.nsca.in/depreciation-co.html
Timestamp: 2019-04-19 09:05:39+00:00

Document:
2. Where, during any financial year, any addition has been made to any asset, or where any asset has been sold, discarded, demolished or destroyed, the depreciation on such assets shall be calculated on a pro rata basis from the date of such addition or, as the case may be, up to the date on which such asset has been sold, discarded, demolished or destroyed.
b. Trucks primarily used for assessee's own business and occasionally let out on hire will not fall under this entry unless assessee carries on a business of running them on hire—CIT v. Manjeet Stone Co.  190 ITR 183 (Raj.); Vehicles plying between fixed points for carriage of passengers fall under this entry—ITO v. Sarojini Transports (P.) Ltd.  17 ITD 1014 (Mad.); Mobile crane mounted on a lorry falls under this entry—Gujco Carriers v. CIT  122 Taxman 206 (Guj.); Rigs and Compressors mounted on a lorry do not fall under this item—CIT v. Popular Borewell Service  194 ITR 12 (Mad.); Motor vans are akin to motor lorries or motor buses—Circular No. 609, dated 29-7-1991/CIT v. Kodak Ltd.  181 ITR 275 (Bom.); Ambulance van falls under this entry—CIT v. Dr. K.R. Jayachandran  212 ITR 637 (Ker.); Air-conditioned vehicles fall under this entry—CIT v. Urmila Goel  52 CTR (Delhi) 276.

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