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1983 (9) TMI 112 - AT - Income TaxExtract: ....... of them on 19-10-1975 has become the owner of them. The lorries are owned by the assessee and are used in its business. Thus, it has satisfied the conditions laid down in section 32. Thus, we hold that the assessee is entitled to depreciation on the two lorries. We direct the ITO to allow the depreciation. 13. In the result, the appeal is allowed.
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