Depreciation not allowable if Assessee is not the owner of the Asset either wholly or partly

ITAT HYDERABAD BENCH ‘A’ Dharti Dredgers & Infrastructure Ltd. versus Assistant Commissioner of Income-tax Income Tax Appeal Nos. 566 & 872 (Hyd.) of 2012 [ASSESSMENT YEAR 2008-09] Date of Pronouncement – 21.01.2013 ORDER Saktijit Dey, Judicial Member These are cross appeals filed against the order dated 28-3-2012 of CIT(A)-II, Hyderabad passed in ITA No.0071/CIT(A)-II, Hyd/2010-11 pertaining to the assessment year 2008-09. ITA No.566/Hyd/12 (Assessee’s appeal):- 2. Though the assessee has raised four grounds, ground Nos. 2, 3 and 4 are general...