25 November 2009
Sir, A person has given the donation to a trust under the 85% Scheme.From such amount Trust purchase a Building for social purpose.can Trust can claim depriciation on such building.If yes,please provide appropiate judgement or any provision.
25 November 2009
yes depreciation is allowed to claim and you can refer CIT Vs Institue of Banking 264 itr 110 Bombay high court case and Escorts Ltd Vs Union of India 99 itr 43 (SC)
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