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1979 (6) TMI 75 - ITAT INDOREExtract: .......rly go to show that it was the assessee who was the de facto owner and in these circumstances he alone was entitled to depreciation as per the provisions of s. 32 of the IT Act. We, therefore, uphold the decision of the AAC. 10. In the result, the appeal filed by the assessee is partly allowed, while the appeal filed by the Department is dismissed.
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