https://www.taxtmi.com/caselaws?id=66517 Beneficial ownership and business use of premises can satisfy the ownership requirement for depreciation even where no registered conveyance has been executed. A purchaser in possession using a shop for business may therefore claim depreciation. Diagnostic-centre operations using plant and machinery with qualified assistance to produce reports, X-ray images, scans, ECGs and similar commercially valuable outputs may constitute business involving production of an article or thing. Machinery used for those operations may consequently qualify for investment allowance, rather than being excluded as equipment used solely in a professional service. en-us Mon, 30 Jan 1989 00:00:00 +0530 Sat, 26 Feb 2011 12:50:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66517 Beneficial ownership and business use of premises can satisfy the ownership requirement for depreciation even where no registered conveyance has been executed. A purchaser in possession using a shop for business may therefore claim depreciation. Diagnostic-centre operations using plant and machinery with qualified assistance to produce reports, X-ray images, scans, ECGs and similar commercially valuable outputs may constitute business involving production of an article or thing. Machinery used for those operations may consequently qualify for investment allowance, rather than being excluded as equipment used solely in a professional service. Case-Laws Income Tax Mon, 30 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66517