https://www.taxtmi.com/caselaws?id=79025 Depreciation on fixed assets is allowable to a charitable institution when computing income under sections 11 to 13, even where the related capital expenditure has already been treated as application of income. Contributions made under a statutory obligation to the State Agricultural Marketing Board may also qualify as application of income for charitable purposes where allowable on the governing facts and law. Both propositions were treated as governed by binding prior decisions, resulting in rejection of the Revenue's challenge and preservation of the impugned order. en-us Tue, 14 Sep 2010 00:00:00 +0530 Thu, 30 Dec 2010 23:19:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=79025 Depreciation on fixed assets is allowable to a charitable institution when computing income under sections 11 to 13, even where the related capital expenditure has already been treated as application of income. Contributions made under a statutory obligation to the State Agricultural Marketing Board may also qualify as application of income for charitable purposes where allowable on the governing facts and law. Both propositions were treated as governed by binding prior decisions, resulting in rejection of the Revenue's challenge and preservation of the impugned order. Case-Laws Income Tax Tue, 14 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=79025