https://www.taxtmi.com/caselaws?id=66137 Depreciation under section 32 was denied on the factory building because ownership of immovable property had not passed without registration of the conveyance deed; the vendor still stood as owner, so the assessee could not claim depreciation on that asset. Depreciation was allowed on the plant and machinery, office equipment and furniture because those were treated as movable assets, title to movables could pass on delivery, and the assessee was in possession and using them; in the absence of any finding that the plant and machinery had become immovable property, they were regarded as owned by the assessee for section 32 purposes. en-us Fri, 15 Nov 1985 00:00:00 +0530 Mon, 21 Feb 2011 17:26:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66137 Depreciation under section 32 was denied on the factory building because ownership of immovable property had not passed without registration of the conveyance deed; the vendor still stood as owner, so the assessee could not claim depreciation on that asset. Depreciation was allowed on the plant and machinery, office equipment and furniture because those were treated as movable assets, title to movables could pass on delivery, and the assessee was in possession and using them; in the absence of any finding that the plant and machinery had become immovable property, they were regarded as owned by the assessee for section 32 purposes. Case-Laws Income Tax Fri, 15 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66137