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1999 (8) TMI 39 - HC - Income TaxExtract: .......ny was entitled to claim depreciation under the provisions of section 32 of the Income-tax Act, 1961, in respect of the factory building belonging to it and used by it for its business. Accordingly, the question is answered in the affirmative, i.e., in favour of the assessee and against the Revenue. The reference stands answered in the above terms.
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