https://www.taxtmi.com/caselaws?id=181253 The High Court of Kerala dismissed both appeals filed by the Revenue. The court held that educational institutions, even if not for profit, are entitled to claim depreciation benefits under section 32 of the Income Tax Act. It also upheld the deletion of fees receivable from KSRTC, stating there was no justification for treating it as income. Additionally, the court agreed with the Tribunal that the income carried forward for running the educational institution was for a charitable purpose, disallowing the Revenue's claim. en-us Tue, 27 Oct 2009 00:00:00 +0530 Mon, 11 Apr 2016 18:08:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181253 The High Court of Kerala dismissed both appeals filed by the Revenue. The court held that educational institutions, even if not for profit, are entitled to claim depreciation benefits under section 32 of the Income Tax Act. It also upheld the deletion of fees receivable from KSRTC, stating there was no justification for treating it as income. Additionally, the court agreed with the Tribunal that the income carried forward for running the educational institution was for a charitable purpose, disallowing the Revenue's claim. Case-Laws Income Tax Tue, 27 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181253