https://www.taxtmi.com/caselaws?id=374286 The ITAT Kolkata upheld the assessee's depreciation claim for AY 2008-09, ruling that Section 11(6) of the Income Tax Act does not have retrospective effect. The decision aligned with the Apex Court's clarification in a similar case. The judgment emphasized the need to balance statutory provisions and judicial precedents in determining income applications for charitable trusts, confirming the validity of the depreciation claim and dismissing the appeal. en-us Fri, 26 Oct 2018 00:00:00 +0530 Wed, 30 Jan 2019 08:19:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374286 The ITAT Kolkata upheld the assessee's depreciation claim for AY 2008-09, ruling that Section 11(6) of the Income Tax Act does not have retrospective effect. The decision aligned with the Apex Court's clarification in a similar case. The judgment emphasized the need to balance statutory provisions and judicial precedents in determining income applications for charitable trusts, confirming the validity of the depreciation claim and dismissing the appeal. Case-Laws Income Tax Fri, 26 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374286