https://www.taxtmi.com/caselaws?id=204482 For charitable trusts under sections 11 to 13, income is computed on a real-income basis. Statutory payments made under the governing scheme for specified public purposes may be treated as application of income, and depreciation on fixed assets used for charitable objects is allowable in computing income. The text states that both issues were decided in favour of the assessee, and the contrary revenue view that depreciation creates an impermissible double benefit was rejected. en-us Mon, 05 Jul 2010 00:00:00 +0530 Thu, 19 May 2011 13:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204482 For charitable trusts under sections 11 to 13, income is computed on a real-income basis. Statutory payments made under the governing scheme for specified public purposes may be treated as application of income, and depreciation on fixed assets used for charitable objects is allowable in computing income. The text states that both issues were decided in favour of the assessee, and the contrary revenue view that depreciation creates an impermissible double benefit was rejected. Case-Laws Income Tax Mon, 05 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204482