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of <h1>Gujarat HC allows depreciation without registered deed</h1> <h3>Commissioner of Income-Tax Versus Deepak Nitrite Ltd.</h3> Commissioner of Income-Tax Versus Deepak Nitrite Ltd. - [2000] 243 ITR 825 The Gujarat High Court ruled in favor of the assessee regarding depreciation on factory and office buildings despite the conveyance deed not being registered by the end of the accounting year. The decision was based on the assessee acquiring possession and running the factory after making substantial payments. The court cited a similar case where possession and part payment were deemed sufficient for depreciation entitlement. The appeal in Tax Appeal No. 150 of 1999 was dismissed in favor of the assessee.
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