https://www.taxtmi.com/caselaws?id=22670 Depreciation under section 32 of the Income-tax Act was available because the assessee satisfied the ownership requirement in respect of the three raw material depots transferred by the Government. Section 2 of the Government Grants Act, 1895, was applied to hold that government grants or transfers of land or interests therein are excluded from the Transfer of Property Act, 1882, and the expression "other transfer" is wide enough to include transfers for consideration. As a result, a registered conveyance deed was not necessary to pass title, and the assessee was treated as owner of the depots for depreciation purposes. The claim for depreciation was therefore allowed. en-us Thu, 29 Nov 1990 00:00:00 +0530 Wed, 07 Jun 2017 18:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22670 Depreciation under section 32 of the Income-tax Act was available because the assessee satisfied the ownership requirement in respect of the three raw material depots transferred by the Government. Section 2 of the Government Grants Act, 1895, was applied to hold that government grants or transfers of land or interests therein are excluded from the Transfer of Property Act, 1882, and the expression "other transfer" is wide enough to include transfers for consideration. As a result, a registered conveyance deed was not necessary to pass title, and the assessee was treated as owner of the depots for depreciation purposes. The claim for depreciation was therefore allowed. Case-Laws Income Tax Thu, 29 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22670