https://www.taxtmi.com/caselaws?id=387539 The appeals filed by the Revenue under Section 260A of the Income-tax Act, 1961, were dismissed by the HC. The court ruled against the Revenue, affirming that the assessee is entitled to claim depreciation on assets treated as application of income under Section 11. This decision followed the precedent set by the SC in a similar case. No costs were awarded. en-us Mon, 26 Aug 2019 00:00:00 +0530 Fri, 08 Nov 2024 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387539 The appeals filed by the Revenue under Section 260A of the Income-tax Act, 1961, were dismissed by the HC. The court ruled against the Revenue, affirming that the assessee is entitled to claim depreciation on assets treated as application of income under Section 11. This decision followed the precedent set by the SC in a similar case. No costs were awarded. Case-Laws Income Tax Mon, 26 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387539