https://www.taxtmi.com/caselaws?id=23433 Title to a motor vehicle passes on completion of sale and is not dependent on mutation of the registration certificate. Failure to transfer registration may expose the parties to penalty under the Motor Vehicles Act, but it does not prevent ownership from passing between transferor and transferee. Because the assessees had purchased and used the vehicles in business during the relevant years, they were treated as owners for income-tax purposes and were entitled to depreciation. The ownership question was answered in favour of the assessees and against the Revenue. en-us Thu, 09 Mar 1989 00:00:00 +0530 Sat, 19 Dec 2009 12:45:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23433 Title to a motor vehicle passes on completion of sale and is not dependent on mutation of the registration certificate. Failure to transfer registration may expose the parties to penalty under the Motor Vehicles Act, but it does not prevent ownership from passing between transferor and transferee. Because the assessees had purchased and used the vehicles in business during the relevant years, they were treated as owners for income-tax purposes and were entitled to depreciation. The ownership question was answered in favour of the assessees and against the Revenue. Case-Laws Income Tax Thu, 09 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23433