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2006 (2) TMI 507 - ITAT DELHIExtract: .......essee-company has satisfied the conditions for the purpose of claiming depreciation under section 32 that depreciable assets are owned by the assessee and the same were used for the purpose of assessee rsquo s business. We, therefore, direct to allow the depreciation to the assessee. 24. In the result, the appeal of the assessee-company is allowed.
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