https://www.taxtmi.com/caselaws?id=216372 The Appellate Tribunal upheld the CIT(A)'s decision to allow the depreciation claimed by the assessee Trust for assessment years 2005-06 and 2006-07. The Tribunal confirmed that the allowance of depreciation did not result in double deduction or benefit, considering the Trust's exempt status. The decision was supported by judicial precedents and the interpretation of relevant provisions under the Income-tax Act. Consequently, the Revenue's appeals for both assessment years were dismissed. en-us Fri, 22 Jun 2012 00:00:00 +0530 Sat, 08 Sep 2012 07:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216372 The Appellate Tribunal upheld the CIT(A)'s decision to allow the depreciation claimed by the assessee Trust for assessment years 2005-06 and 2006-07. The Tribunal confirmed that the allowance of depreciation did not result in double deduction or benefit, considering the Trust's exempt status. The decision was supported by judicial precedents and the interpretation of relevant provisions under the Income-tax Act. Consequently, the Revenue's appeals for both assessment years were dismissed. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216372