https://www.taxtmi.com/caselaws?id=371560 The High Court of Karnataka dismissed the Revenue's appeal, affirming that the computation of income for charitable trusts should follow commercial principles, allowing for normal depreciation as a legitimate deduction. The court emphasized that depreciation is essential for preserving the trust's corpus and should be permitted under section 11. The court referenced previous decisions to support its ruling and concluded that no substantial questions of law warranted further consideration. The appeal was dismissed without costs. en-us Tue, 21 Aug 2018 00:00:00 +0530 Thu, 06 Dec 2018 05:35:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371560 The High Court of Karnataka dismissed the Revenue's appeal, affirming that the computation of income for charitable trusts should follow commercial principles, allowing for normal depreciation as a legitimate deduction. The court emphasized that depreciation is essential for preserving the trust's corpus and should be permitted under section 11. The court referenced previous decisions to support its ruling and concluded that no substantial questions of law warranted further consideration. The appeal was dismissed without costs. Case-Laws Income Tax Tue, 21 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371560