https://www.taxtmi.com/caselaws?id=352718 The High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) to dismiss the Revenue's appeals regarding the disallowance of depreciation claimed by charitable trusts for Assessment Year 2008-09. The ITAT found that the disallowance of depreciation, based on the Commissioner of Income Tax's orders under section 263, could not stand after the Tribunal quashed those orders and the High Court affirmed the decision. Consequently, the ITAT ruled that the disallowance of depreciation could not be upheld, leading to the dismissal of the Revenue's appeals. en-us Fri, 13 Oct 2017 00:00:00 +0530 Tue, 19 Dec 2017 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352718 The High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) to dismiss the Revenue's appeals regarding the disallowance of depreciation claimed by charitable trusts for Assessment Year 2008-09. The ITAT found that the disallowance of depreciation, based on the Commissioner of Income Tax's orders under section 263, could not stand after the Tribunal quashed those orders and the High Court affirmed the decision. Consequently, the ITAT ruled that the disallowance of depreciation could not be upheld, leading to the dismissal of the Revenue's appeals. Case-Laws Income Tax Fri, 13 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352718