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Whether depreciation allowable or disallowable
ASSESSEE IS PVT LTD CO RENTED ITS BUILDING TO OTHER AND COLLECTED RENT . RENT INCOME SHOWN AS BUSINESS INCOME .WHETHER DEPRECIATION ALLOWABLE ON BUILDING UNDER INCOME TAX ACT
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any income earned from the business of carrying on renting of house property wud be taxable under house property. deduction @ 30% wud be allowable on the income from house property. therefore no additional claim towards depreciation can be made
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