https://www.taxtmi.com/caselaws?id=262172 The Delhi High Court dismissed the Revenue's appeals, ruling that depreciation on capital assets can be considered as the application of income under Section 11(1)(a) of the Income Tax Act, 1961. The Court emphasized the importance of consistency in applying the law and highlighted the long-standing practice of allowing depreciation for charitable institutions. Additionally, the Court left open a question regarding subscription received from members, citing the nominal amount involved in the case. en-us Wed, 27 Nov 2013 00:00:00 +0530 Tue, 04 Aug 2015 07:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262172 The Delhi High Court dismissed the Revenue's appeals, ruling that depreciation on capital assets can be considered as the application of income under Section 11(1)(a) of the Income Tax Act, 1961. The Court emphasized the importance of consistency in applying the law and highlighted the long-standing practice of allowing depreciation for charitable institutions. Additionally, the Court left open a question regarding subscription received from members, citing the nominal amount involved in the case. Case-Laws Income Tax Wed, 27 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262172