https://www.taxtmi.com/caselaws?id=282438 The court affirmed the Tribunal's decisions regarding the eligibility of a charitable or religious trust to carry forward deficits, claim depreciation on capital assets, and set off unabsorbed deficits. It held that income should be computed on commercial principles, allowing for normal depreciation and deductions. The court dismissed the Revenue's contentions, concluding that the questions of law raised did not warrant further consideration. The appeal by the Revenue was disposed of accordingly, with no costs awarded. en-us Tue, 14 Aug 2018 00:00:00 +0530 Wed, 07 Aug 2019 18:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282438 The court affirmed the Tribunal's decisions regarding the eligibility of a charitable or religious trust to carry forward deficits, claim depreciation on capital assets, and set off unabsorbed deficits. It held that income should be computed on commercial principles, allowing for normal depreciation and deductions. The court dismissed the Revenue's contentions, concluding that the questions of law raised did not warrant further consideration. The appeal by the Revenue was disposed of accordingly, with no costs awarded. Case-Laws Income Tax Tue, 14 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282438