https://www.taxtmi.com/caselaws?id=25408 A trust was treated as a valid representative assessee because the trust deed was duly executed and the factual findings showed the corpus was contributed by the major members, not the minors. For depreciation under section 32, legal ownership of the immovable asset was required; possession under an agreement to sell without a registered conveyance was insufficient. The claim to depreciation on properties taken under such an agreement was therefore rejected for want of completed title. en-us Wed, 29 Jul 1987 00:00:00 +0530 Thu, 28 Jan 2010 13:49:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25408 A trust was treated as a valid representative assessee because the trust deed was duly executed and the factual findings showed the corpus was contributed by the major members, not the minors. For depreciation under section 32, legal ownership of the immovable asset was required; possession under an agreement to sell without a registered conveyance was insufficient. The claim to depreciation on properties taken under such an agreement was therefore rejected for want of completed title. Case-Laws Income Tax Wed, 29 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25408