https://www.taxtmi.com/caselaws?id=362566 The High Court upheld the Tribunal's decision, affirming the entitlement of Charitable Trusts to claim depreciation under Section 32 of the Income Tax Act. The Court emphasized the application of generally accepted principles of accountancy in income computation and referenced established legal precedents supporting the allowance of depreciation for Charitable Trusts. Consequently, the Court dismissed the Revenue's Appeals challenging the Tribunal's ruling. en-us Tue, 19 Jun 2018 00:00:00 +0530 Tue, 13 Nov 2018 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362566 The High Court upheld the Tribunal's decision, affirming the entitlement of Charitable Trusts to claim depreciation under Section 32 of the Income Tax Act. The Court emphasized the application of generally accepted principles of accountancy in income computation and referenced established legal precedents supporting the allowance of depreciation for Charitable Trusts. Consequently, the Court dismissed the Revenue's Appeals challenging the Tribunal's ruling. Case-Laws Income Tax Tue, 19 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362566