https://www.taxtmi.com/caselaws?id=178114 The Tribunal dismissed Revenue's appeals and upheld the Commissioner of Income Tax (Appeals) decisions allowing depreciation claims by trusts. Citing conflicting precedents, the Tribunal applied the principle favoring the assessee and rejected Revenue's arguments of potential double deduction. The judgment was based on the case law CIT Vs. Vegetable Products, concluding in favor of the trusts and instructing to place the order on relevant case files in Chennai. en-us Wed, 17 Apr 2013 00:00:00 +0530 Fri, 19 May 2017 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178114 The Tribunal dismissed Revenue's appeals and upheld the Commissioner of Income Tax (Appeals) decisions allowing depreciation claims by trusts. Citing conflicting precedents, the Tribunal applied the principle favoring the assessee and rejected Revenue's arguments of potential double deduction. The judgment was based on the case law CIT Vs. Vegetable Products, concluding in favor of the trusts and instructing to place the order on relevant case files in Chennai. Case-Laws Income Tax Wed, 17 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178114