https://www.taxtmi.com/caselaws?id=16867 For income-tax purposes, ownership is determined by the substantive right to enjoy the property and receive its income, not by legal title alone under the Transfer of Property Act or Registration Act. Where the assessee had taken possession, paid full consideration and was otherwise entitled to the benefits of ownership, registration of the conveyance deed was not indispensable to claim depreciation. Depreciation could therefore not be denied merely because the sale deed was registered later, and the reference was answered in favour of the assessee and against the Revenue. en-us Fri, 03 Apr 1998 00:00:00 +0530 Sat, 12 Sep 2009 16:39:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16867 For income-tax purposes, ownership is determined by the substantive right to enjoy the property and receive its income, not by legal title alone under the Transfer of Property Act or Registration Act. Where the assessee had taken possession, paid full consideration and was otherwise entitled to the benefits of ownership, registration of the conveyance deed was not indispensable to claim depreciation. Depreciation could therefore not be denied merely because the sale deed was registered later, and the reference was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Fri, 03 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16867