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        <h1>Court permits depreciation for charities under Income Tax Act Section 11, no double deduction. Section 11(6) applies from 2015-16.</h1> <h3>The Director of Income-tax, Exemptions, Bangalore, M/s. Karnataka Reddy Janasangha M/s. Gokula Education Foundation, MS Ramaiah Nagar and anothers Versus Al-Ameen Charitable Fund Trust and Others</h3> The Director of Income-tax, Exemptions, Bangalore, M/s. Karnataka Reddy Janasangha M/s. Gokula Education Foundation, MS Ramaiah Nagar and anothers Versus ... Issues Involved:1. Allowability of depreciation under Section 11 of the Income Tax Act for charitable institutions.2. Applicability of the principle of double deduction.3. Retrospective or prospective application of Section 11(6) of the Income Tax Act.Issue-wise Detailed Analysis:1. Allowability of Depreciation under Section 11:The core issue in these appeals is whether depreciation is allowable under Section 11 of the Income Tax Act for charitable institutions. The assessees, all charitable institutions registered under Section 12AA and 10(23)(c) of the Act, claimed depreciation on capital assets, which was disallowed by the Assessing Officer on the grounds that it would result in double deduction. The CIT(A) and the Tribunal, however, allowed the depreciation, leading to the revenue's appeal.2. Principle of Double Deduction:The revenue contended that allowing depreciation would result in a double deduction since the cost of acquiring the capital asset had already been treated as an application of income. The revenue relied on the Supreme Court judgment in Escorts Ltd., which prohibits double deductions. The assessees argued that the depreciation claim is not under Section 32 but under normal commercial principles, and does not amount to double deduction. The court referred to the judgment in Society of Sisters of St. Anne, which held that depreciation is allowable as it represents the wear and tear of the asset and is necessary to preserve the corpus of the trust.3. Retrospective or Prospective Application of Section 11(6):Section 11(6) was inserted by the Finance Act No.2/2014, effective from 01.04.2015, which mandates that income should be determined without any deduction for depreciation if the acquisition of the asset has been claimed as an application of income. The revenue argued that this amendment is clarificatory and should apply retrospectively. However, the court, referring to the principles laid down in Vatika Township P. Ltd., held that the amendment is prospective and applies from the assessment year 2015-16 onwards.Conclusion:The court concluded that depreciation is allowable under Section 11 of the Income Tax Act for charitable institutions, and such allowance does not amount to double deduction. The court also held that Section 11(6) is prospective in nature and applies from the assessment year 2015-16. Consequently, the appeals by the revenue were dismissed, and the question of law was answered in favor of the assessee.

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