Depreciation on assets registered in name of third person

Ritesh khurana (CA student) (175 Points)

02 April 2013  

 

company acquire a commercial vechile under a name of third person (not related with company)  , Payment is made by company and assets is  used exclusively and for the beneficial of company 

query is 

can company claim depreciation on it 

 

Thanks in advance 

Ritesh khurana