https://www.taxtmi.com/caselaws?id=353870 Depreciation is allowable to a charitable trust computing income under sections 11 and 12 even where the capital cost of the same asset has already been treated as application of income, because the two computations are separate and denial would distort true income. The trust's claim was therefore accepted. The accompanying interest-related disallowance concerning balances with specified persons under section 13(3) was also not found erroneous, and that relief was sustained. On these issues, no substantial question of law was held to arise from the Tribunal's order, leaving the assessee's position undisturbed. en-us Tue, 02 Jan 2018 00:00:00 +0530 Thu, 25 Jan 2018 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353870 Depreciation is allowable to a charitable trust computing income under sections 11 and 12 even where the capital cost of the same asset has already been treated as application of income, because the two computations are separate and denial would distort true income. The trust's claim was therefore accepted. The accompanying interest-related disallowance concerning balances with specified persons under section 13(3) was also not found erroneous, and that relief was sustained. On these issues, no substantial question of law was held to arise from the Tribunal's order, leaving the assessee's position undisturbed. Case-Laws Income Tax Tue, 02 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353870