https://www.taxtmi.com/caselaws?id=274381 The ITAT Chennai ruled in favor of the assessee society in the appeal related to eligibility for deduction under sec.11 for the assessment year 2010-11. The ITAT held that the payment made to the founder's wife was in compliance with the trust's terms, qualifying for exemption under sec.11. The assessing authority was directed to grant all available exemptions under sec.11. Additionally, the ITAT allowed the depreciation claim, emphasizing that recognizing depreciation does not conflict with applying funds for charitable purposes. The order was pronounced in May 2014 at Chennai. en-us Tue, 27 May 2014 00:00:00 +0530 Fri, 10 Aug 2018 14:38:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274381 The ITAT Chennai ruled in favor of the assessee society in the appeal related to eligibility for deduction under sec.11 for the assessment year 2010-11. The ITAT held that the payment made to the founder's wife was in compliance with the trust's terms, qualifying for exemption under sec.11. The assessing authority was directed to grant all available exemptions under sec.11. Additionally, the ITAT allowed the depreciation claim, emphasizing that recognizing depreciation does not conflict with applying funds for charitable purposes. The order was pronounced in May 2014 at Chennai. Case-Laws Income Tax Tue, 27 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274381