https://www.taxtmi.com/caselaws?id=213034 The Tribunal allowed the appeal of the assessee, deleting the disallowance of depreciation amounting to Rs. 34,38,417. The Tribunal held that the assessee-trust was entitled to claim depreciation for the assessment year, following the principles established by a previous order from the Chennai Bench 'C' and legal provisions governing income computation for charitable trusts. The decision overturned the lower authorities' ruling, emphasizing that deductions like depreciation on Trust assets should be considered in calculating income for trusts eligible for exemption under Section 11. en-us Mon, 30 Apr 2012 00:00:00 +0530 Fri, 04 May 2012 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213034 The Tribunal allowed the appeal of the assessee, deleting the disallowance of depreciation amounting to Rs. 34,38,417. The Tribunal held that the assessee-trust was entitled to claim depreciation for the assessment year, following the principles established by a previous order from the Chennai Bench 'C' and legal provisions governing income computation for charitable trusts. The decision overturned the lower authorities' ruling, emphasizing that deductions like depreciation on Trust assets should be considered in calculating income for trusts eligible for exemption under Section 11. Case-Laws Income Tax Mon, 30 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213034