Capitalisation in a Cooperative Housing Society

SCENARIO :  Cooperative Housing Society AND Cooperative Housing Society B decide to buy a common usage water submersible pump at a cost of Rs 1,58,000 from a buyer. The deal was executed and the asset was delivered and installed. Society A paid a sum of Rs 1,58,000 against the bill raised on its name.

Society B paid its share of Rs 79,000 to Society A and the deal was completed

QUESTIONNAIRE :

How and in whose books will the asset be capitalized .

SUGGESTIONS :

1. If the asset is capitalized in the books of A at Full Value the amount received from Society B has to be treated as a loan just like any other mode of financing.
2. The asset is capitalized in the books of A at 50% value
3. Asset is capitalized in the books of A at full value and amount received from B is treated as Income and taxed as no MUTUALITY is involved here.
4. Get split bills from the supplier – An attempt which did not materialize

REQUEST :

                BEST AND CORRECT OPTION OUT OF THE 3 SUGGESTIONS AS ABOVE SO AS NOT TO INVITE   

                ISSUES WITH THE REGISTRAR OF COOPERATIVE SOCIETIES.