https://www.taxtmi.com/caselaws?id=240646 Depreciation remains allowable for a charitable institution computing real income, even where the asset cost was earlier treated as application of income. The Madhya Pradesh High Court followed settled High Court authority that such treatment does not create impermissible double deduction, because depreciation is a necessary charge in income computation. On that basis, the Revenue's challenge was rejected and the assessee's depreciation claim was left intact. en-us Tue, 02 Apr 2013 00:00:00 +0530 Mon, 09 Dec 2013 09:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240646 Depreciation remains allowable for a charitable institution computing real income, even where the asset cost was earlier treated as application of income. The Madhya Pradesh High Court followed settled High Court authority that such treatment does not create impermissible double deduction, because depreciation is a necessary charge in income computation. On that basis, the Revenue's challenge was rejected and the assessee's depreciation claim was left intact. Case-Laws Income Tax Tue, 02 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240646