https://www.taxtmi.com/caselaws?id=118848 The Tribunal dismissed the assessee's appeals for the assessment years 1995-96 and 1996-97 and allowed the revenue's appeal for the assessment year 1997-98. It upheld that the hirers, not the assessee, were entitled to claim depreciation on assets under hire-purchase agreements, as ownership effectively passed to the hirers during the hire period based on possession and registration of the assets. en-us Wed, 31 Aug 2005 00:00:00 +0530 Fri, 06 Jul 2012 12:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118848 The Tribunal dismissed the assessee's appeals for the assessment years 1995-96 and 1996-97 and allowed the revenue's appeal for the assessment year 1997-98. It upheld that the hirers, not the assessee, were entitled to claim depreciation on assets under hire-purchase agreements, as ownership effectively passed to the hirers during the hire period based on possession and registration of the assets. Case-Laws Income Tax Wed, 31 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118848