https://www.taxtmi.com/caselaws?id=181851 The Tribunal upheld the deletion of disallowance of depreciation for a charitable trust's assets, allowing depreciation to preserve the trust's corpus based on relevant case law. Additionally, the Tribunal permitted the carrying forward of deficit in the application of funds for charitable purposes, following precedents allowing adjustment of excess expenditure against the succeeding year's income. The assessee's appeal was allowed, and the Revenue's appeals were dismissed. en-us Mon, 31 Jan 2011 00:00:00 +0530 Tue, 26 Apr 2016 14:09:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181851 The Tribunal upheld the deletion of disallowance of depreciation for a charitable trust's assets, allowing depreciation to preserve the trust's corpus based on relevant case law. Additionally, the Tribunal permitted the carrying forward of deficit in the application of funds for charitable purposes, following precedents allowing adjustment of excess expenditure against the succeeding year's income. The assessee's appeal was allowed, and the Revenue's appeals were dismissed. Case-Laws Income Tax Mon, 31 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181851