SC on depreciation on leased immovable property in absence of registered deed

The brief facts involved in the instant appeal are that the appellant-M/s. Mother Hospital Private Ltd. is a private limited company, the shares in which are held by seven persons closely related to each other, viz., (1) Dr. M. Ali; (2) Dr. Ayesha Beevi (wife of Dr. M. Ali); (3) Nisha, (4) Shabna and (5) Sharmini (all children of Dr. M. Ali and Dr. Ayesha Beevi); (6) Khadeeja Beevi (mother of Dr. M. Ali); (7) and Akbar Ali (father of Ayesha Devi). Out of the total capital of Rs.1,33,63,520/- of the company, the value of the shares held by Khadeeja Beevi and Akbar Ali were Rs.5,000/- each. The ...