https://www.taxtmi.com/caselaws?id=256357 The High Court upheld the decision of the Commissioner of Income Tax(Appeals)-I, allowing the claim of depreciation by the trust for Assessment Year 2010-11. The court held that for trusts registered under section 12A, claiming depreciation does not result in double deduction as the income is exempt. The court distinguished the case cited by the Revenue and found no error in the CIT(Appeals) decision. The Tribunal dismissed the Revenue's appeal and deemed the cross-objections of the assessee irrelevant due to the appeal outcome. en-us Thu, 11 Dec 2014 00:00:00 +0530 Thu, 08 Jan 2015 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256357 The High Court upheld the decision of the Commissioner of Income Tax(Appeals)-I, allowing the claim of depreciation by the trust for Assessment Year 2010-11. The court held that for trusts registered under section 12A, claiming depreciation does not result in double deduction as the income is exempt. The court distinguished the case cited by the Revenue and found no error in the CIT(Appeals) decision. The Tribunal dismissed the Revenue's appeal and deemed the cross-objections of the assessee irrelevant due to the appeal outcome. Case-Laws Income Tax Thu, 11 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256357