https://www.taxtmi.com/caselaws?id=364719 The Tribunal dismissed the revenue's appeals for both assessment years, upholding the CIT(A)'s orders. It confirmed the assessee's entitlement to exemption under Section 11, the charitable nature of its activities, the allowance of prior period expenses, the provision for tax payment as application of income, and the allowance of depreciation on assets. The Tribunal's decision was in line with previous ITAT and High Court rulings, reinforcing the principles of commercial accounting for charitable institutions. en-us Tue, 31 Jul 2018 00:00:00 +0530 Fri, 03 Aug 2018 08:35:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364719 The Tribunal dismissed the revenue's appeals for both assessment years, upholding the CIT(A)'s orders. It confirmed the assessee's entitlement to exemption under Section 11, the charitable nature of its activities, the allowance of prior period expenses, the provision for tax payment as application of income, and the allowance of depreciation on assets. The Tribunal's decision was in line with previous ITAT and High Court rulings, reinforcing the principles of commercial accounting for charitable institutions. Case-Laws Income Tax Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364719