https://www.taxtmi.com/caselaws?id=9455 Ownership for depreciation under section 32(1) of the Income-tax Act is not confined to formal registered title; a wider beneficial meaning applies where the claimant is in possession and exercises dominion over the property in its own right. On that basis, property allotted to a partner on dissolution of a firm can qualify as owned even without a registered transfer deed, and absence of registration under the Registration Act does not by itself defeat the depreciation claim. The assessee was therefore entitled to depreciation, and the contrary view was rejected. en-us Mon, 12 Dec 2005 00:00:00 +0530 Tue, 23 Jun 2009 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9455 Ownership for depreciation under section 32(1) of the Income-tax Act is not confined to formal registered title; a wider beneficial meaning applies where the claimant is in possession and exercises dominion over the property in its own right. On that basis, property allotted to a partner on dissolution of a firm can qualify as owned even without a registered transfer deed, and absence of registration under the Registration Act does not by itself defeat the depreciation claim. The assessee was therefore entitled to depreciation, and the contrary view was rejected. Case-Laws Income Tax Mon, 12 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9455