https://www.taxtmi.com/caselaws?id=186646 The Tribunal dismissed the Revenue's appeal regarding the disallowance of depreciation claimed by a Trust for the assessment year 2006-2007. The dispute centered on whether claiming depreciation on assets previously treated as an application of income constituted double deduction. The Tribunal, following legal precedents for charitable institutions, upheld the assessee's right to depreciation, emphasizing that the amount should be deducted to determine available income for charitable purposes. The decision was based on established legal interpretations and precedents from previous tribunal and High Court rulings. en-us Mon, 17 Sep 2012 00:00:00 +0530 Thu, 25 Jan 2018 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186646 The Tribunal dismissed the Revenue's appeal regarding the disallowance of depreciation claimed by a Trust for the assessment year 2006-2007. The dispute centered on whether claiming depreciation on assets previously treated as an application of income constituted double deduction. The Tribunal, following legal precedents for charitable institutions, upheld the assessee's right to depreciation, emphasizing that the amount should be deducted to determine available income for charitable purposes. The decision was based on established legal interpretations and precedents from previous tribunal and High Court rulings. Case-Laws Income Tax Mon, 17 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186646