https://www.taxtmi.com/caselaws?id=12629 Depreciation under section 32 of the Income-tax Act could be claimed only where the asset was owned wholly or partly by the assessee and used for business, and the dispute concerned whether vehicles registered in partners' names but used by the firm satisfied that ownership requirement. The matter raised a question of law on the statutory meaning of ownership in this context, not merely a factual dispute. The High Court held that the Tribunal had wrongly refused to state a case under section 256(2) and directed it to refer the question of law. en-us Tue, 22 Feb 2000 00:00:00 +0530 Wed, 20 May 2009 16:48:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12629 Depreciation under section 32 of the Income-tax Act could be claimed only where the asset was owned wholly or partly by the assessee and used for business, and the dispute concerned whether vehicles registered in partners' names but used by the firm satisfied that ownership requirement. The matter raised a question of law on the statutory meaning of ownership in this context, not merely a factual dispute. The High Court held that the Tribunal had wrongly refused to state a case under section 256(2) and directed it to refer the question of law. Case-Laws Income Tax Tue, 22 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12629