https://www.taxtmi.com/caselaws?id=178138 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to allow depreciation as application of income on charitable objects for the assessment year 2010-11. Relying on precedents and decisions favoring the assessee, the Tribunal dismissed the Revenue's appeal, citing consistency with previous Tribunal rulings and the need to adopt the interpretation benefiting the assessee in cases of conflicting judicial precedents. The order directing the Assessing Officer to allow depreciation was affirmed, emphasizing adherence to established jurisprudence on fixed asset depreciation for trusts. en-us Fri, 07 Mar 2014 00:00:00 +0530 Fri, 29 Jan 2016 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178138 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to allow depreciation as application of income on charitable objects for the assessment year 2010-11. Relying on precedents and decisions favoring the assessee, the Tribunal dismissed the Revenue's appeal, citing consistency with previous Tribunal rulings and the need to adopt the interpretation benefiting the assessee in cases of conflicting judicial precedents. The order directing the Assessing Officer to allow depreciation was affirmed, emphasizing adherence to established jurisprudence on fixed asset depreciation for trusts. Case-Laws Income Tax Fri, 07 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178138