https://www.taxtmi.com/caselaws?id=65944 The Tribunal allowed the appeal, granting the assessee the depreciation claim on the jointly owned plant and machinery. The Tribunal concluded that since the assessee was the full owner of half the asset and earned income from it, they were entitled to depreciation, distinguishing the case from the Allahabad High Court decision. The Tribunal emphasized that income from jointly exploited assets could be assessed separately for each owner, and in this case, the income was assessed separately for the owners, including the assessee. en-us Thu, 17 Mar 1983 00:00:00 +0530 Sat, 19 Feb 2011 13:48:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65944 The Tribunal allowed the appeal, granting the assessee the depreciation claim on the jointly owned plant and machinery. The Tribunal concluded that since the assessee was the full owner of half the asset and earned income from it, they were entitled to depreciation, distinguishing the case from the Allahabad High Court decision. The Tribunal emphasized that income from jointly exploited assets could be assessed separately for each owner, and in this case, the income was assessed separately for the owners, including the assessee. Case-Laws Income Tax Thu, 17 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65944