https://www.taxtmi.com/caselaws?id=180127 The ITAT Chennai dismissed the Revenue's appeals for assessment years 2006-07 and 2008-09, upholding the CIT(A)'s decisions to allow exemption under sec.11 for the trusts and to permit depreciation on fixed assets used for charitable purposes. The judgment emphasized the application of regular commercial principles in computing income for charitable trusts and the importance of adhering to legal precedents in such matters. en-us Fri, 14 Dec 2012 00:00:00 +0530 Wed, 02 Aug 2017 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180127 The ITAT Chennai dismissed the Revenue's appeals for assessment years 2006-07 and 2008-09, upholding the CIT(A)'s decisions to allow exemption under sec.11 for the trusts and to permit depreciation on fixed assets used for charitable purposes. The judgment emphasized the application of regular commercial principles in computing income for charitable trusts and the importance of adhering to legal precedents in such matters. Case-Laws Income Tax Fri, 14 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180127