Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 December 2010
I have purchased Building which costs Rs 70 Lakhs which includes both Land & Building Cost??
Now i want to claim depreciation on Building,
How can i segregate the value to arrive at building cost as depreciation is not allowed on Land Value??
Now i want to claim depreciation on Building,
How can i segregate the value to arrive at building cost as depreciation is not allowed on Land Value??
CA Ayush Agarwal
(Expert)
20 December 2010
As per decision in CIT vs Rajesh Exports Ltd 9 SOT 28(Bangalore) In case of a composit agreement for pur of land & building where seperate distinction can't be made about the price of each, dep is admissible on whole consideration.
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