https://www.taxtmi.com/caselaws?id=17504 Depreciation under section 32 of the Income-tax Act, 1961 requires legal ownership of the asset in the relevant year, not mere possession or user, so the assessee could not claim depreciation or development rebate for the thirteen rice mills because title had not passed in the assessment years concerned. Section 53A of the Transfer of Property Act did not confer title, and later conveyances could not operate retrospectively. On the scientific research claim, only actual expenditure under section 35 was allowable, and the full contribution of Rs. 55,000 to the Paddy Processing Research Centre was accepted because the evidence supported that amount. en-us Mon, 10 Feb 1997 00:00:00 +0530 Tue, 22 Sep 2009 17:30:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17504 Depreciation under section 32 of the Income-tax Act, 1961 requires legal ownership of the asset in the relevant year, not mere possession or user, so the assessee could not claim depreciation or development rebate for the thirteen rice mills because title had not passed in the assessment years concerned. Section 53A of the Transfer of Property Act did not confer title, and later conveyances could not operate retrospectively. On the scientific research claim, only actual expenditure under section 35 was allowable, and the full contribution of Rs. 55,000 to the Paddy Processing Research Centre was accepted because the evidence supported that amount. Case-Laws Income Tax Mon, 10 Feb 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17504