https://www.taxtmi.com/caselaws?id=55573 Depreciation under section 32 cannot be denied merely because a factory building is not registered in the assessee's name where the assessee has paid consideration, taken possession, and used the property for business. The analysis treats ownership for depreciation purposes as extending beyond complete legal title when the assessee has dominion and control in its own right. It also refers to the statutory context of section 2(47)(v), section 27(iiia), and part performance under section 53A of the Transfer of Property Act, 1882, to support the view that registration is not decisive. Where two views are possible, the interpretation favourable to the assessee is applied. en-us Fri, 15 Jan 1999 00:00:00 +0530 Sat, 27 Nov 2010 17:49:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55573 Depreciation under section 32 cannot be denied merely because a factory building is not registered in the assessee's name where the assessee has paid consideration, taken possession, and used the property for business. The analysis treats ownership for depreciation purposes as extending beyond complete legal title when the assessee has dominion and control in its own right. It also refers to the statutory context of section 2(47)(v), section 27(iiia), and part performance under section 53A of the Transfer of Property Act, 1882, to support the view that registration is not decisive. Where two views are possible, the interpretation favourable to the assessee is applied. Case-Laws Income Tax Fri, 15 Jan 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55573