Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2011 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (6) TMI 564 - AT - Income TaxDisallowance of extra depreciation on factory building - pending formal registration of title deed/ownership rights in the then name of the company - factory premises acquired by the assessee company was in the possession of the assessee company and was being used for its business purpose of mechanized manufacture of fly ash construction material, known as Autoclave Aerated Concrete Products. – Held that:- in the case of National Industrial Corpn. Ltd. (2002 - TMI - 12367 - DELHI High Court), the assessee company acquired the possession of the entire building with a right to exercise the necessary control of the property which the assessee was capable of and that being so, evidently, it was the obvious intention of the assessee to exclude others from exercising such control and it was this, which showed the element of ownership of the assessee company over the factory premises acquired, appeal filed by the Department is dismissed
|