https://www.taxtmi.com/caselaws?id=354117 The Tribunal upheld the decisions of the CIT(A) on both issues, ruling in favor of the appellant regarding the treatment of undisclosed interest income and the eligibility for depreciation on assets purchased from grants under section 35AC. The judgments referenced supported the allowance of depreciation for charitable trusts, emphasizing the principles of commercial computation of income for such entities. The appeal filed by the department was dismissed, affirming the correctness of the appellant's approach in both matters. en-us Fri, 12 Jan 2018 00:00:00 +0530 Thu, 18 Jan 2018 08:25:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354117 The Tribunal upheld the decisions of the CIT(A) on both issues, ruling in favor of the appellant regarding the treatment of undisclosed interest income and the eligibility for depreciation on assets purchased from grants under section 35AC. The judgments referenced supported the allowance of depreciation for charitable trusts, emphasizing the principles of commercial computation of income for such entities. The appeal filed by the department was dismissed, affirming the correctness of the appellant's approach in both matters. Case-Laws Income Tax Fri, 12 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354117