1987 (10) TMI 15

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....POORNAN J.-At the instance of the applicant-assessee, the Income-tax Appellate Tribunal has referred the following question of law for the decision of this court : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in disallowing the claim of depreciation of the applicant company in respect of its building on the ground that the applicant company ....

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....ed to depreciation on the building. The plea was rejected. In appeal, the Commissioner of Income-tax (Appeals) concurred with the said view. He held that the building did not belong to the assessee. In further appeal, the Appellate Tribunal held that it was unable to agree with the assessee that it should be considered the owner of the building, since there had been no registered deed conveying th....

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..... We heard counsel for the applicant-assessee. It was argued that there was material to show that it was the assessee who constructed the building and in fact it was the owner. On these premises, depreciation, as claimed, should have been allowed. There is no substance in this plea. The Appellate Tribunal has categorically found that the assessee cannot be considered as the owner of the buildin....