https://www.taxtmi.com/caselaws?id=353052 The Tribunal partially allowed all three appeals of the assessee, ruling in favor of the assessee on the issue of income from leasing medical equipment and disallowance of depreciation. The Tribunal held that the assessee was eligible for exemption under Section 11 of the Income-tax Act for income applied towards charitable activities, including leasing medical equipment for charitable purposes. Additionally, the Tribunal determined that depreciation was not applicable to assets used for charitable purposes, as per Section 11 of the Act. en-us Fri, 27 Oct 2017 00:00:00 +0530 Wed, 27 Dec 2017 08:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353052 The Tribunal partially allowed all three appeals of the assessee, ruling in favor of the assessee on the issue of income from leasing medical equipment and disallowance of depreciation. The Tribunal held that the assessee was eligible for exemption under Section 11 of the Income-tax Act for income applied towards charitable activities, including leasing medical equipment for charitable purposes. Additionally, the Tribunal determined that depreciation was not applicable to assets used for charitable purposes, as per Section 11 of the Act. Case-Laws Income Tax Fri, 27 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353052