https://www.taxtmi.com/caselaws?id=17564 Depreciation under section 32 is allowable where the assessee has paid full consideration, taken possession, and exercises dominion and control over the property in its own right. Legal title need not be fully registered if the assessee is in exclusive enjoyment as owner and the asset is used for business. A transferee in possession under an executed bargain may be treated as the owner for depreciation purposes. On these facts, depreciation was held allowable and the issue was answered in favour of the assessee. en-us Thu, 08 Aug 1996 00:00:00 +0530 Wed, 23 Sep 2009 13:12:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17564 Depreciation under section 32 is allowable where the assessee has paid full consideration, taken possession, and exercises dominion and control over the property in its own right. Legal title need not be fully registered if the assessee is in exclusive enjoyment as owner and the asset is used for business. A transferee in possession under an executed bargain may be treated as the owner for depreciation purposes. On these facts, depreciation was held allowable and the issue was answered in favour of the assessee. Case-Laws Income Tax Thu, 08 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17564