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1996 (7) TMI 136 - PUNJAB AND HARYANA HIGH COURTExtract: .......e assessee-company was not entitled to claim depreciation on the building under section 32 of the Income-tax Act, 1961 ? In favour of the assessee and against the Revenue. It is held that the assessee had become a lawful owner of the property thus satisfying the ingredient of section 32 of the Act entitling it to the depreciation claimed. No costs.
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