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??

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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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.