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Depreciation

This query is : Resolved 
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(Querist)
17 August 2010 Asseessee is a trust and runs school. It has taken a land on rent from a Pvt. Ltd. co.Assessee has constructed a building theron. Can it claim depreciation on it?

If Yes, Plz refer any case law or circular
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Prem Ketan

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Prem Ketan (Expert)
17 August 2010 As per the section 32 depreciation can be claimed on building constructed on lease land. There is no condition for having ownership on the land.
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