https://www.taxtmi.com/caselaws?id=14308 The High Court of Kerala ruled in favor of a private trust, allowing them to claim depreciation on buildings not registered in their name. The court held that ownership, for depreciation purposes under section 32 of the Income-tax Act, extends to the entity entitled to income from the property and using it for business or profession, irrespective of formal registration. The judgment emphasized that dominion over the building and its business use determine ownership for depreciation claims. Consequently, the court disposed of the Income-tax reference in favor of the trust based on these interpretations. en-us Mon, 05 Mar 2001 00:00:00 +0530 Wed, 15 Jul 2009 11:34:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14308 The High Court of Kerala ruled in favor of a private trust, allowing them to claim depreciation on buildings not registered in their name. The court held that ownership, for depreciation purposes under section 32 of the Income-tax Act, extends to the entity entitled to income from the property and using it for business or profession, irrespective of formal registration. The judgment emphasized that dominion over the building and its business use determine ownership for depreciation claims. Consequently, the court disposed of the Income-tax reference in favor of the trust based on these interpretations. Case-Laws Income Tax Mon, 05 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14308