https://www.taxtmi.com/caselaws?id=292218 The Tribunal affirmed the decision to allow the claim of depreciation on assets acquired by the Trust from the application of income, citing relevant legal precedents and legislative provisions. The appeals by the Revenue were dismissed, upholding the order of the Commissioner of Income-Tax (Appeals)-II for AYs 2005-06 and 2010-11. The Tribunal's decision was based on the necessity of providing depreciation for maintaining accurate accounts and determining income available for charitable purposes, in accordance with established case law and legislative amendments up to 01.04.2015. en-us Tue, 20 Sep 2016 00:00:00 +0530 Sat, 12 Dec 2020 07:17:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292218 The Tribunal affirmed the decision to allow the claim of depreciation on assets acquired by the Trust from the application of income, citing relevant legal precedents and legislative provisions. The appeals by the Revenue were dismissed, upholding the order of the Commissioner of Income-Tax (Appeals)-II for AYs 2005-06 and 2010-11. The Tribunal's decision was based on the necessity of providing depreciation for maintaining accurate accounts and determining income available for charitable purposes, in accordance with established case law and legislative amendments up to 01.04.2015. Case-Laws Income Tax Tue, 20 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292218