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1982 (8) TMI 77 - ITAT AMRITSARExtract: .......rrived at only after considering the receipts and the expenses, we find no justification for denying him the claim of depreciation on the plea that he was not the registered owner. In effect, we reverse the finding of the lower authorities and hold that the assessee was entitled to claim depreciation on the bus. 4. In the result, appeal is allowed.
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