https://www.taxtmi.com/caselaws?id=188159 Depreciation was allowable on factory and office buildings even though the conveyance deed was not registered by the end of the accounting year, because the assessee had paid substantial consideration, taken possession, and exercised dominion over the property in its business. The absence of formal registration was not decisive where beneficial and practical ownership had passed to the assessee. On those facts, the right to depreciation followed from control and use of the asset rather than completed legal title. en-us Wed, 03 Nov 1999 00:00:00 +0530 Sat, 19 Nov 2016 16:56:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188159 Depreciation was allowable on factory and office buildings even though the conveyance deed was not registered by the end of the accounting year, because the assessee had paid substantial consideration, taken possession, and exercised dominion over the property in its business. The absence of formal registration was not decisive where beneficial and practical ownership had passed to the assessee. On those facts, the right to depreciation followed from control and use of the asset rather than completed legal title. Case-Laws Income Tax Wed, 03 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188159