https://www.taxtmi.com/caselaws?id=183918 The Tribunal dismissed the revenue's appeal, allowing the appellant, a charitable institution, to claim depreciation on capital expenditure for trust objectives and set off deficits from earlier years against current year's income. The decision, based on legal principles and High Court precedents, favored the appellant despite conflicting judgments, emphasizing that capital expenditure for trust objectives qualifies for depreciation and deficits from earlier years should be considered as application of income in subsequent years. en-us Wed, 19 Dec 2012 00:00:00 +0530 Fri, 24 Jun 2016 17:20:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183918 The Tribunal dismissed the revenue's appeal, allowing the appellant, a charitable institution, to claim depreciation on capital expenditure for trust objectives and set off deficits from earlier years against current year's income. The decision, based on legal principles and High Court precedents, favored the appellant despite conflicting judgments, emphasizing that capital expenditure for trust objectives qualifies for depreciation and deficits from earlier years should be considered as application of income in subsequent years. Case-Laws Income Tax Wed, 19 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183918