Mutual Benefit Society's Property Income Classified as Business Income; Eligible for Depreciation Claims Under Tax Rules.

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....Depreciation claim - mutual benefit society - Once the properties of the society are used for the purpose of activities of the assessee, the same would have to be treated as being used in the business of the assessee. If this is so, the income under the head business in the hands of the assessee, would have to be considered and depreciation liable to be allowed - AT....