https://www.taxtmi.com/caselaws?id=253416 The HC upheld the Tribunal's decision denying depreciation to a charitable institution that had treated the purchase cost of capital assets as application of income. Allowing depreciation in addition to the earlier deduction for the asset's cost would result in double deduction, which is impermissible. The court noted that income applied or accumulated for charitable purposes must be determined without depreciation deductions on assets whose acquisition cost has already been allowed as application of income. The court clarified that the amended Section 11(6), effective from 1 April 2015, which alters this position, was not applicable to the assessment years under consideration. The decision was rendered against the revenue. en-us Tue, 18 Nov 2014 00:00:00 +0530 Fri, 01 Aug 2025 15:09:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253416 The HC upheld the Tribunal's decision denying depreciation to a charitable institution that had treated the purchase cost of capital assets as application of income. Allowing depreciation in addition to the earlier deduction for the asset's cost would result in double deduction, which is impermissible. The court noted that income applied or accumulated for charitable purposes must be determined without depreciation deductions on assets whose acquisition cost has already been allowed as application of income. The court clarified that the amended Section 11(6), effective from 1 April 2015, which alters this position, was not applicable to the assessment years under consideration. The decision was rendered against the revenue. Case-Laws Income Tax Tue, 18 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253416