https://www.taxtmi.com/caselaws?id=19039 The court held that the registration of the conveyance deed transferring buildings, plant, and machinery by the Government to the assessee was not required for claiming depreciation. The court ruled in favor of the assessee, stating that the Transfer of Property Act does not apply to Government grants, and the assessee was entitled to the depreciation allowances claimed. Additionally, the court determined that the interest earned on short-term deposits should be treated as business income of the assessee, as it was deemed incidental to the business activities. Both issues were decided in favor of the assessee against the Revenue. en-us Thu, 23 Mar 1995 00:00:00 +0530 Tue, 03 Nov 2009 15:21:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19039 The court held that the registration of the conveyance deed transferring buildings, plant, and machinery by the Government to the assessee was not required for claiming depreciation. The court ruled in favor of the assessee, stating that the Transfer of Property Act does not apply to Government grants, and the assessee was entitled to the depreciation allowances claimed. Additionally, the court determined that the interest earned on short-term deposits should be treated as business income of the assessee, as it was deemed incidental to the business activities. Both issues were decided in favor of the assessee against the Revenue. Case-Laws Income Tax Thu, 23 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19039