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??
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.