https://www.taxtmi.com/caselaws?id=336031 The tribunal allowed the appeal, directing the AO to grant the depreciation claimed by the assessee on assets despite the cost being treated as application of income. The decision was based on legal precedents and interpretations of relevant tax laws for charitable trusts, ensuring that depreciation is a legitimate deduction for computing income under section 11(1) without constituting a double benefit. en-us Fri, 02 Dec 2016 00:00:00 +0530 Wed, 14 Dec 2016 16:14:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336031 The tribunal allowed the appeal, directing the AO to grant the depreciation claimed by the assessee on assets despite the cost being treated as application of income. The decision was based on legal precedents and interpretations of relevant tax laws for charitable trusts, ensuring that depreciation is a legitimate deduction for computing income under section 11(1) without constituting a double benefit. Case-Laws Income Tax Fri, 02 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336031