Depreciation on Car in partner's name claimed by the Partnership Firm

This discussion explores whether a partnership firm can claim depreciation on motor cars purchased by partners in their individual names. The consensus is that if the cars are used exclusively for business purposes, they can be treated as fixed assets on the firm's balance sheet, allowing the firm to claim depreciation. However, if the cars are used for personal reasons by the partners, the firm cannot claim them as assets or claim depreciation.