https://www.taxtmi.com/caselaws?id=217104 The Tribunal dismissed the Revenue's appeal, upholding the Commissioner of Income Tax(A)'s decision that depreciation should be deducted to determine the net income of charitable trusts and societies. The Tribunal found that allowing both capital expenditure and depreciation on the same assets did not constitute double deduction, as depreciation is a necessary deduction on commercial principles. The original order allowing the claim of depreciation was upheld, and the Revenue's appeal was deemed meritless. en-us Fri, 27 Jul 2012 00:00:00 +0530 Sat, 08 Sep 2012 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217104 The Tribunal dismissed the Revenue's appeal, upholding the Commissioner of Income Tax(A)'s decision that depreciation should be deducted to determine the net income of charitable trusts and societies. The Tribunal found that allowing both capital expenditure and depreciation on the same assets did not constitute double deduction, as depreciation is a necessary deduction on commercial principles. The original order allowing the claim of depreciation was upheld, and the Revenue's appeal was deemed meritless. Case-Laws Income Tax Fri, 27 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217104