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2005 (2) TMI 53 - HC - Income Tax"Whether, Tribunal right in granting depreciation under section 32 for the building occupied by the assessee-company by reversing the first appellate order confirming disallowance in assessment?" - controversy arose because the assessee-company admittedly is not the owner of the building under general law of the land inasmuch as the firm which constructed the building on the land belonging to it has not transferred the title to the land or the building to the assessee-company but only allowed use of the building by the assessee under an agreement - So long as the assessee has no enforceable right of title over the building against its actual owner, the partnership firm, the assessee's claim of depreciation as its owner is untenable and was rightly rejected by the Assessing Officer and confirmed in first appeal – order of tribunal is set aside
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