https://www.taxtmi.com/caselaws?id=21552 While computing income of a charitable trust under section 11(1)(a) of the Income-tax Act, 1961, income is to be determined on ordinary commercial principles as real income, not by applying the special computation rules for house property income. Depreciation is a necessary charge in maintaining correct accounts and is therefore allowable as a deduction to ascertain the amount available for application to charitable purposes. The computation provisions in sections 22 to 27 do not govern this exercise. The referred questions were answered in the affirmative, against the Revenue. en-us Wed, 26 Feb 1992 00:00:00 +0530 Fri, 24 Oct 2025 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21552 While computing income of a charitable trust under section 11(1)(a) of the Income-tax Act, 1961, income is to be determined on ordinary commercial principles as real income, not by applying the special computation rules for house property income. Depreciation is a necessary charge in maintaining correct accounts and is therefore allowable as a deduction to ascertain the amount available for application to charitable purposes. The computation provisions in sections 22 to 27 do not govern this exercise. The referred questions were answered in the affirmative, against the Revenue. Case-Laws Income Tax Wed, 26 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21552