https://www.taxtmi.com/caselaws?id=177946 The ITAT upheld the CIT (A) order allowing depreciation of Rs. 36,53,818/- for the society, emphasizing it as a legitimate deduction for computing trust income, citing legal precedents. The appeal by revenue challenging the depreciation allowance was dismissed based on precedents like Escorts Ltd Vs. Union of India, ITO Vs. Trustees of Marathi Mission, and CIT Vs. Institute of Banking Personnel Selection. The judgment highlighted that compulsory income application provisions do not impact income computation for charitable institutions. en-us Fri, 13 May 2011 00:00:00 +0530 Fri, 22 Jan 2016 14:51:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177946 The ITAT upheld the CIT (A) order allowing depreciation of Rs. 36,53,818/- for the society, emphasizing it as a legitimate deduction for computing trust income, citing legal precedents. The appeal by revenue challenging the depreciation allowance was dismissed based on precedents like Escorts Ltd Vs. Union of India, ITO Vs. Trustees of Marathi Mission, and CIT Vs. Institute of Banking Personnel Selection. The judgment highlighted that compulsory income application provisions do not impact income computation for charitable institutions. Case-Laws Income Tax Fri, 13 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177946