https://www.taxtmi.com/caselaws?id=259346 The revenue's appeal challenging the Tribunal's order was dismissed by the Court. The Court held that the exemption claimed for "Management Development Programme and consultancy charges" was admissible under section 11(4A) of the Income Tax Act, as the charges were utilized for the trust's educational institute objectives. Additionally, income from hiring premises and advertisement rights was considered incidental to the trust's objectives. The Court clarified that depreciation on trust assets did not constitute double deduction, as acquisition deduction differs from depreciation claimed for asset use. The appeal lacked merit and was dismissed. en-us Mon, 23 Mar 2015 00:00:00 +0530 Fri, 18 Dec 2015 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259346 The revenue's appeal challenging the Tribunal's order was dismissed by the Court. The Court held that the exemption claimed for "Management Development Programme and consultancy charges" was admissible under section 11(4A) of the Income Tax Act, as the charges were utilized for the trust's educational institute objectives. Additionally, income from hiring premises and advertisement rights was considered incidental to the trust's objectives. The Court clarified that depreciation on trust assets did not constitute double deduction, as acquisition deduction differs from depreciation claimed for asset use. The appeal lacked merit and was dismissed. Case-Laws Income Tax Mon, 23 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259346