https://www.taxtmi.com/caselaws?id=55052 Property contributed by a partner as capital to a firm becomes partnership property, and a registered instrument is not required for such contribution of immovable property. The transfer mechanism under partnership law is distinct from ordinary conveyance under property law and is not controlled by the Registration Act in the manner suggested by the Department. On dissolution, allotment of the asset to a partner or transferee is treated as receipt of a share in partnership assets, not a fresh transfer requiring a registered deed. Depreciation on the factory building was therefore allowable to the assessee trust, and the objection based on absence of registration failed. en-us Fri, 21 Dec 1990 00:00:00 +0530 Tue, 23 Nov 2010 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55052 Property contributed by a partner as capital to a firm becomes partnership property, and a registered instrument is not required for such contribution of immovable property. The transfer mechanism under partnership law is distinct from ordinary conveyance under property law and is not controlled by the Registration Act in the manner suggested by the Department. On dissolution, allotment of the asset to a partner or transferee is treated as receipt of a share in partnership assets, not a fresh transfer requiring a registered deed. Depreciation on the factory building was therefore allowable to the assessee trust, and the objection based on absence of registration failed. Case-Laws Income Tax Fri, 21 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55052