https://www.taxtmi.com/caselaws?id=25602 The High Court of Andhra Pradesh ruled in favor of the private limited company, allowing depreciation claims for a building in Bombay despite an unregistered conveyance deed. The Court emphasized that ownership, as per the Income-tax Act, must entitle the owner to income from the property, not just a beneficial interest. Citing precedent cases and other High Court rulings, the Court upheld the company's entitlement to depreciation, rejecting the Revenue's argument based on a different case. Ultimately, the Court aligned with previous judgments and supported the company's claim for depreciation under section 32(1) of the Income-tax Act, 1961. en-us Wed, 18 Feb 1987 00:00:00 +0530 Fri, 29 Jan 2010 16:44:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25602 The High Court of Andhra Pradesh ruled in favor of the private limited company, allowing depreciation claims for a building in Bombay despite an unregistered conveyance deed. The Court emphasized that ownership, as per the Income-tax Act, must entitle the owner to income from the property, not just a beneficial interest. Citing precedent cases and other High Court rulings, the Court upheld the company's entitlement to depreciation, rejecting the Revenue's argument based on a different case. Ultimately, the Court aligned with previous judgments and supported the company's claim for depreciation under section 32(1) of the Income-tax Act, 1961. Case-Laws Income Tax Wed, 18 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25602