https://www.taxtmi.com/caselaws?id=330448 The High Court affirmed that depreciation is allowable for charitable trusts under Section 11 of the Income Tax Act. It held that Section 11(6) is prospective from 01.04.2015, rejecting retrospective application. The court dismissed the Revenue's appeal, upholding the Tribunal's decision in favor of the assessee, emphasizing the legitimacy of claiming depreciation as a necessary outgoing for charitable trusts. en-us Tue, 28 Jun 2016 00:00:00 +0530 Tue, 26 Jul 2016 11:50:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330448 The High Court affirmed that depreciation is allowable for charitable trusts under Section 11 of the Income Tax Act. It held that Section 11(6) is prospective from 01.04.2015, rejecting retrospective application. The court dismissed the Revenue's appeal, upholding the Tribunal's decision in favor of the assessee, emphasizing the legitimacy of claiming depreciation as a necessary outgoing for charitable trusts. Case-Laws Income Tax Tue, 28 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330448