https://www.taxtmi.com/caselaws?id=15227 The court ruled in favor of the assessee, allowing the claim for depreciation on a house property acquired through acquiring shares in a co-operative society without registration under the Registration Act. The court held that ownership vested upon acquiring shares in the co-operative society, entitling the assessee to claim depreciation under the Income-tax Act. Citing precedent, the court determined that possession and enjoyment of the property constituted ownership for the purpose of claiming depreciation, even without a formal deed of title. The decision favored the assessee over the Revenue, upholding their right to depreciation in such circumstances. en-us Fri, 01 Oct 1999 00:00:00 +0530 Mon, 03 Aug 2009 18:03:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15227 The court ruled in favor of the assessee, allowing the claim for depreciation on a house property acquired through acquiring shares in a co-operative society without registration under the Registration Act. The court held that ownership vested upon acquiring shares in the co-operative society, entitling the assessee to claim depreciation under the Income-tax Act. Citing precedent, the court determined that possession and enjoyment of the property constituted ownership for the purpose of claiming depreciation, even without a formal deed of title. The decision favored the assessee over the Revenue, upholding their right to depreciation in such circumstances. Case-Laws Income Tax Fri, 01 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15227