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2014 (8) TMI 1121 - AT - Income TaxDepreciation on machinery - ownership of machinery - Held that: - the transfer of asset to the assessee‟s name is not a prerequisite so long as the asset in question is finally used and assessee is constructive and beneficial owner of the same. Therefore, the CIT (A) has rightly adjudicated the issue under consideration and the decision taken by him is fair and reasonable and it does not call for any interference - decided against Revenue.
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