https://www.taxtmi.com/caselaws?id=180072 The ITAT dismissed the appeal, upholding the decision of the Ld. CIT(A) that treating depreciation amount as application of income under sec. 11(1)(a) of the Income Tax Act would result in double deduction. The ITAT, bound by a subsequent High Court ruling, declined to grant relief sought by the assessee, citing the High Court's authority to modify provisions. The assessee's appeal was dismissed on 07-12-2012. en-us Fri, 07 Dec 2012 00:00:00 +0530 Wed, 16 Mar 2016 10:40:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180072 The ITAT dismissed the appeal, upholding the decision of the Ld. CIT(A) that treating depreciation amount as application of income under sec. 11(1)(a) of the Income Tax Act would result in double deduction. The ITAT, bound by a subsequent High Court ruling, declined to grant relief sought by the assessee, citing the High Court's authority to modify provisions. The assessee's appeal was dismissed on 07-12-2012. Case-Laws Income Tax Fri, 07 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180072