https://www.taxtmi.com/caselaws?id=390245 The Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal challenging the Commissioner of Income Tax [Appeals] order. IT upheld the CIT(A) decision in favor of the assessee, allowing depreciation, provision for doubtful debts, bad debts, and loss on sale of fixed assets. The ITAT emphasized the commercial nature of the claims and cited precedents supporting the assessee's position. The ITAT considered the charitable activities of the assessee society registered under section 12A, affirming that certain provisions related to business activities should apply to charitable organizations. en-us Mon, 23 Dec 2019 00:00:00 +0530 Thu, 26 Dec 2019 07:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390245 The Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal challenging the Commissioner of Income Tax [Appeals] order. IT upheld the CIT(A) decision in favor of the assessee, allowing depreciation, provision for doubtful debts, bad debts, and loss on sale of fixed assets. The ITAT emphasized the commercial nature of the claims and cited precedents supporting the assessee's position. The ITAT considered the charitable activities of the assessee society registered under section 12A, affirming that certain provisions related to business activities should apply to charitable organizations. Case-Laws Income Tax Mon, 23 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390245