https://www.taxtmi.com/caselaws?id=267820 The Tribunal allowed the appeal in favor of the charitable institution, permitting depreciation on assets despite being claimed as application of income, citing precedents and distinguishing between application and computation of income for charitable institutions. The decision aligned with earlier High Court judgments, emphasizing the independence of depreciation claims from income application, despite a subsequent legislative amendment prohibiting such depreciation. en-us Tue, 25 Aug 2015 00:00:00 +0530 Mon, 16 Nov 2015 01:23:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267820 The Tribunal allowed the appeal in favor of the charitable institution, permitting depreciation on assets despite being claimed as application of income, citing precedents and distinguishing between application and computation of income for charitable institutions. The decision aligned with earlier High Court judgments, emphasizing the independence of depreciation claims from income application, despite a subsequent legislative amendment prohibiting such depreciation. Case-Laws Income Tax Tue, 25 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267820