https://www.taxtmi.com/caselaws?id=348273 The Tribunal ruled in favor of the assessee on both grounds. It held that the surplus from hostel and transport facilities should not be treated as business income, as these activities were integral to the educational objectives of the society. Additionally, the Tribunal allowed depreciation on assets, emphasizing that disallowing it would lead to an incorrect computation of income for charitable institutions. The decision aligned with judicial precedents supporting the assessee's arguments, overturning the lower authorities' findings. en-us Fri, 15 Sep 2017 00:00:00 +0530 Tue, 19 Sep 2017 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348273 The Tribunal ruled in favor of the assessee on both grounds. It held that the surplus from hostel and transport facilities should not be treated as business income, as these activities were integral to the educational objectives of the society. Additionally, the Tribunal allowed depreciation on assets, emphasizing that disallowing it would lead to an incorrect computation of income for charitable institutions. The decision aligned with judicial precedents supporting the assessee's arguments, overturning the lower authorities' findings. Case-Laws Income Tax Fri, 15 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348273