https://www.taxtmi.com/caselaws?id=365452 The High Court set aside the order reopening the assessment for Assessment Year 2010-11 of a charitable trust based on depreciation claimed. The court held that the reopening was unjustified as the issue of depreciation had been previously scrutinized under Section 143(3) and the subsequent decision by the Supreme Court clarified that depreciation is allowable to charitable trusts. The court granted an interim stay on the order, noting that the petitioner had a prima facie case for the stay. The writ petition was allowed, and the proceedings were annulled as the reopening was solely based on disallowance of depreciation, which was resolved in favor of the petitioner by the Supreme Court's ruling. en-us Thu, 09 Aug 2018 00:00:00 +0530 Fri, 17 Aug 2018 09:26:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365452 The High Court set aside the order reopening the assessment for Assessment Year 2010-11 of a charitable trust based on depreciation claimed. The court held that the reopening was unjustified as the issue of depreciation had been previously scrutinized under Section 143(3) and the subsequent decision by the Supreme Court clarified that depreciation is allowable to charitable trusts. The court granted an interim stay on the order, noting that the petitioner had a prima facie case for the stay. The writ petition was allowed, and the proceedings were annulled as the reopening was solely based on disallowance of depreciation, which was resolved in favor of the petitioner by the Supreme Court's ruling. Case-Laws Income Tax Thu, 09 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365452