1987 (10) TMI 15

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..... al has referred the following question of law for the decision of this court : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was justified in disallowing the claim of depreciation of the applicant company in respect of its building on the ground that the applicant company was not the owner of the building? " The respondent is the Revenue. We are concerned .....

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..... of Income-tax (Appeals) concurred with the said view. He held that the building did not belong to the assessee. In further appeal, the Appellate Tribunal held that it was unable to agree with the assessee that it should be considered the owner of the building, since there had been no registered deed conveying the immovable property to the assessee. Since the building is an immovable property, the .....

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..... to show that it was the assessee who constructed the building and in fact it was the owner. On these premises, depreciation, as claimed, should have been allowed. There is no substance in this plea. The Appellate Tribunal has categorically found that the assessee cannot be considered as the owner of the building, since there was no registered deed conveying the ownership of the property to the ass .....

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