Directors Can Claim Depreciation on Company Vehicles Registered in Their Names u/s 32 of Income Tax Act.

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....Disallowing the depreciation for the cars AND interest paid on car loan used by the directors - vehicle held in the name of director of the appellant company - the assessee is entitled to the depreciation under the provisions of section 32 of the Act inspite of the fact that the vehicle is registered in the name of the director of the appellant company. - AT....