https://www.taxtmi.com/caselaws?id=381588 The Tribunal dismissed the Revenue's appeal for Assessment Year 2010-11, upholding the CIT(A)'s decisions on both issues. The claim for depreciation on assets was allowed, clarifying that depreciation on assets treated as application of income should be permitted. Additionally, the carry forward of deficits from earlier years was approved, in line with precedents allowing such adjustments for charitable trusts. The order was pronounced on June 12, 2019. en-us Wed, 12 Jun 2019 00:00:00 +0530 Fri, 14 Jun 2019 07:34:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381588 The Tribunal dismissed the Revenue's appeal for Assessment Year 2010-11, upholding the CIT(A)'s decisions on both issues. The claim for depreciation on assets was allowed, clarifying that depreciation on assets treated as application of income should be permitted. Additionally, the carry forward of deficits from earlier years was approved, in line with precedents allowing such adjustments for charitable trusts. The order was pronounced on June 12, 2019. Case-Laws Income Tax Wed, 12 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381588