https://www.taxtmi.com/caselaws?id=181107 The ITAT Mumbai affirmed the CIT(A)'s decision to allow depreciation claimed by the assessee for the assessment year 2007-08, dismissing the revenue's appeal. The court considered precedents from the Bombay High Court and Punjab & Haryana High Court, emphasizing that claiming depreciation for trust purposes does not result in double benefits. The judgment reflects the careful balance between avoiding double deductions and permitting legitimate deductions under tax laws for charitable trusts. en-us Wed, 10 Aug 2011 00:00:00 +0530 Tue, 10 Oct 2017 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181107 The ITAT Mumbai affirmed the CIT(A)'s decision to allow depreciation claimed by the assessee for the assessment year 2007-08, dismissing the revenue's appeal. The court considered precedents from the Bombay High Court and Punjab & Haryana High Court, emphasizing that claiming depreciation for trust purposes does not result in double benefits. The judgment reflects the careful balance between avoiding double deductions and permitting legitimate deductions under tax laws for charitable trusts. Case-Laws Income Tax Wed, 10 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181107