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2016 (7) TMI 683 - AT - Income TaxDisallowance made on account of depreciation claimed u/s 32 - registration of vehicles has not been transferred in the name of the appellant under the Motor Vehicles Act - Held that:- Hon'ble Supreme Court decision in the case of Mysore Minerals Ltd. v. CIT [1999 (9) TMI 1 - SUPREME Court ] has held that anyone in possession of property in his own title exercising such dominion over the property as would enable others being excluded therefrom and having right to use and occupy the property in his own right would be the owner of building for the purpose of section 32(1) though a formal deed of title may not have been executed and registered. The said proposition of law is fully satisfied in the instant case where the assessee has claimed depreciation on the vehicles having possession and dominion over the income and control over their operations. In light of the above, we are of the view that the appellant is eligible to claim depreciation on the vehicles - Decided in favour of assessee Disallowance on account of trip expenses - Held that:- The expense have been disallowed on purely ad hoc basis and no specific expenditure/transaction has been highlighted by the Assessing Officer which suggest that these expenses have not been incurred for the purposes of the business. In the light of that, we delete the ad hoc disallowance - Decided in favour of assessee
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