https://www.taxtmi.com/caselaws?id=35229 The Court upheld the Tribunal's decision allowing a company to claim depreciation on trucks registered in Directors' names, as the company was deemed the de facto owner based on investments and income. The Court emphasized the company's entitlement to depreciation under Section 32, highlighting the right to use and occupy the property as crucial for ownership determination. The appeal was dismissed, affirming the company's right to claim depreciation for the vehicles. en-us Wed, 06 Jan 2010 00:00:00 +0530 Sat, 29 Dec 2012 16:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35229 The Court upheld the Tribunal's decision allowing a company to claim depreciation on trucks registered in Directors' names, as the company was deemed the de facto owner based on investments and income. The Court emphasized the company's entitlement to depreciation under Section 32, highlighting the right to use and occupy the property as crucial for ownership determination. The appeal was dismissed, affirming the company's right to claim depreciation for the vehicles. Case-Laws Income Tax Wed, 06 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35229