https://www.taxtmi.com/caselaws?id=65149 The Tribunal dismissed the appeals and upheld the private limited company's depreciation claim on a shed, despite formal allotment to the director, as the company had actual ownership and occupancy for business purposes. The director was considered a nominal owner, and the company had full rights over the shed, making it eligible for depreciation under section 32(1A) of the Income Tax Act, 1961. Previous case laws cited by the Department were deemed irrelevant due to differing facts in this case. en-us Mon, 25 Nov 1985 00:00:00 +0530 Sat, 12 Feb 2011 15:18:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65149 The Tribunal dismissed the appeals and upheld the private limited company's depreciation claim on a shed, despite formal allotment to the director, as the company had actual ownership and occupancy for business purposes. The director was considered a nominal owner, and the company had full rights over the shed, making it eligible for depreciation under section 32(1A) of the Income Tax Act, 1961. Previous case laws cited by the Department were deemed irrelevant due to differing facts in this case. Case-Laws Income Tax Mon, 25 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65149