styles-ie7.css in ultimo theme under skin folder. I have used developer tool in IE8 and there are all the css files used by the page. You can see in img 1.
img 2 shows the source code which has all the required files. I have tried to move the styles-ie7.css in the base theme. It is also showing in the view source correctly, but IE is not rendering any of the CSS.
What may be the problem?