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1996 (8) TMI 43 - HC - Income TaxExtract: ....... the right of ownership in his own right as owner thereof, the Tribunal was justified in holding that the assessee was entitled to depreciation under section 32 of the Income-tax Act. For the aforementioned reasons, we answer the question in the affirmative, i.e., in favour of the assessee and against the Revenue. The R. C. is accordingly answered.
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