https://www.taxtmi.com/caselaws?id=255111 The Tribunal upheld the CIT(A)'s decision to allow depreciation to the assessee trusts, ruling that it does not result in double deduction. The judgment emphasized that income of trusts should be computed on commercial principles, including depreciation, for charitable purposes. Citing various High Court decisions and previous Tribunal rulings, the Tribunal dismissed the Revenue's appeals, confirming the CIT(A)'s orders. The judgment was pronounced on February 14, 2013, in Chennai. en-us Thu, 14 Feb 2013 00:00:00 +0530 Wed, 07 Jan 2015 20:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255111 The Tribunal upheld the CIT(A)'s decision to allow depreciation to the assessee trusts, ruling that it does not result in double deduction. The judgment emphasized that income of trusts should be computed on commercial principles, including depreciation, for charitable purposes. Citing various High Court decisions and previous Tribunal rulings, the Tribunal dismissed the Revenue's appeals, confirming the CIT(A)'s orders. The judgment was pronounced on February 14, 2013, in Chennai. Case-Laws Income Tax Thu, 14 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255111