https://www.taxtmi.com/caselaws?id=206213 The Tribunal held that claiming depreciation on assets already allowed as an application of income constitutes a double deduction, which is impermissible. Citing the Escorts Ltd. decision, the Tribunal emphasized the prohibition of double deductions and applied this principle to charitable trusts. Despite arguments from various judicial precedents, the Tribunal maintained that the claim for depreciation amounted to a double deduction, affirming the Revenue's appeal and dismissing the assessee's appeal and cross-objection. en-us Thu, 16 Jun 2011 00:00:00 +0530 Tue, 18 Oct 2011 08:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206213 The Tribunal held that claiming depreciation on assets already allowed as an application of income constitutes a double deduction, which is impermissible. Citing the Escorts Ltd. decision, the Tribunal emphasized the prohibition of double deductions and applied this principle to charitable trusts. Despite arguments from various judicial precedents, the Tribunal maintained that the claim for depreciation amounted to a double deduction, affirming the Revenue's appeal and dismissing the assessee's appeal and cross-objection. Case-Laws Income Tax Thu, 16 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206213