https://www.taxtmi.com/caselaws?id=178137 The Appellate Tribunal ITAT MADRAS dismissed the Revenue's appeal concerning the disallowance of depreciation claimed by a trust under section 12A of the Income Tax Act, 1961. The Tribunal upheld the decision of the CIT(Appeals) in favor of the assessee, emphasizing that the claim of depreciation by the trust was valid and did not lead to double deduction. Relying on precedents and legal principles, the Tribunal concluded that the trust was entitled to claim depreciation for the Assessment Year 2010-11. The order was issued on February 13, 2014, in Chennai. en-us Thu, 13 Feb 2014 00:00:00 +0530 Fri, 29 Jan 2016 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178137 The Appellate Tribunal ITAT MADRAS dismissed the Revenue's appeal concerning the disallowance of depreciation claimed by a trust under section 12A of the Income Tax Act, 1961. The Tribunal upheld the decision of the CIT(Appeals) in favor of the assessee, emphasizing that the claim of depreciation by the trust was valid and did not lead to double deduction. Relying on precedents and legal principles, the Tribunal concluded that the trust was entitled to claim depreciation for the Assessment Year 2010-11. The order was issued on February 13, 2014, in Chennai. Case-Laws Income Tax Thu, 13 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178137