https://www.taxtmi.com/caselaws?id=181139 The Tribunal upheld the ld. CIT(A)'s order, dismissing the Revenue's appeal. The additions for building and bus rent payments were deleted as the AO failed to prove non-reasonableness based on market rates. The depreciation claim for assets owned and used by the trust was allowed, emphasizing that asset funding nature does not affect depreciation claim. The Tribunal referred to judicial precedents, emphasizing the importance of depreciation for preserving the trust's corpus. en-us Tue, 30 Nov 2010 00:00:00 +0530 Fri, 08 Apr 2016 10:56:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181139 The Tribunal upheld the ld. CIT(A)'s order, dismissing the Revenue's appeal. The additions for building and bus rent payments were deleted as the AO failed to prove non-reasonableness based on market rates. The depreciation claim for assets owned and used by the trust was allowed, emphasizing that asset funding nature does not affect depreciation claim. The Tribunal referred to judicial precedents, emphasizing the importance of depreciation for preserving the trust's corpus. Case-Laws Income Tax Tue, 30 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181139