https://www.taxtmi.com/caselaws?id=15930 Depreciation under section 32 is not confined to a person holding a registered sale deed; for tax purposes, "owner" includes one who, in substance, enjoys the rights of ownership and the income from the asset, so denial solely for want of registered title is unsustainable. A payment made to a vendor as part of acquisition consideration and to secure a competitive protection or enduring commercial advantage is capital expenditure, and therefore not deductible. A mere provision for urban land tax, where no tax was actually paid and no demand had crystallised in the relevant year, is also not allowable as a deduction. en-us Mon, 30 Mar 1998 00:00:00 +0530 Wed, 31 Dec 2025 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15930 Depreciation under section 32 is not confined to a person holding a registered sale deed; for tax purposes, "owner" includes one who, in substance, enjoys the rights of ownership and the income from the asset, so denial solely for want of registered title is unsustainable. A payment made to a vendor as part of acquisition consideration and to secure a competitive protection or enduring commercial advantage is capital expenditure, and therefore not deductible. A mere provision for urban land tax, where no tax was actually paid and no demand had crystallised in the relevant year, is also not allowable as a deduction. Case-Laws Income Tax Mon, 30 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15930