https://www.taxtmi.com/caselaws?id=325361 The Tribunal dismissed the appeal, affirming that the trust's activities were commercial, not charitable, and therefore ineligible for exemption under Section 11. Additionally, the depreciation claim on fixed assets was denied as the cost of the assets had been claimed as an application of income in prior years, rendering their cost 'Nil'. The Tribunal held that the trust's income should be assessed as business income under the head 'AOP'. en-us Wed, 10 Feb 2016 00:00:00 +0530 Sat, 30 Apr 2016 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325361 The Tribunal dismissed the appeal, affirming that the trust's activities were commercial, not charitable, and therefore ineligible for exemption under Section 11. Additionally, the depreciation claim on fixed assets was denied as the cost of the assets had been claimed as an application of income in prior years, rendering their cost 'Nil'. The Tribunal held that the trust's income should be assessed as business income under the head 'AOP'. Case-Laws Income Tax Wed, 10 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325361