https://www.taxtmi.com/caselaws?id=62913 Depreciation on purchased motor vehicles used in business can be allowed even if the vehicles were not transferred in the assessee's name in transport records. For movable assets, ownership passes on sale and delivery, and registration in the transferee's name is not a condition for title. The motor vehicle transfer-intimation requirements were treated as regulatory and consequential, not as affecting ownership. Authorities dealing with immovable property were held inapplicable, while decisions supporting depreciation on acquired vehicles were followed. On that basis, the assessee was treated as the owner of the mini truck and car for depreciation purposes. en-us Mon, 11 Mar 1996 00:00:00 +0530 Sat, 22 Jan 2011 15:17:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62913 Depreciation on purchased motor vehicles used in business can be allowed even if the vehicles were not transferred in the assessee's name in transport records. For movable assets, ownership passes on sale and delivery, and registration in the transferee's name is not a condition for title. The motor vehicle transfer-intimation requirements were treated as regulatory and consequential, not as affecting ownership. Authorities dealing with immovable property were held inapplicable, while decisions supporting depreciation on acquired vehicles were followed. On that basis, the assessee was treated as the owner of the mini truck and car for depreciation purposes. Case-Laws Income Tax Mon, 11 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62913