If ur company acquired asset and it let out its property for temporary purpose,then income from such property will be taxable under the head Income from other sources and if if for permenant purpose then income from it shall be taxable under the head "Income from PGBP' and but if such asset is house property if ur company does not use it for ur company principal business purpose and let out it then income from it shall be taxable under the head income from house property.
so if u come under the last case i.e Income from house property,u can not claim depreciation in ur company profit and loss account
but as u told company has only that source of income,obviously such income shall be taxable as business income and u can claim depreciation as well
correct me if i am wrong and i would be very greatful for ur suggestion in case of my wrong assertions
Thank you