https://www.taxtmi.com/caselaws?id=403321 The Tribunal upheld the allowance of depreciation for charitable institutions, following precedents allowing both capital expenditure and depreciation as application of income. Regarding the recognition of income related to disputed space rent, the Tribunal ruled in favor of the assessee, stating that taxability cannot be determined until disputes are resolved. The Revenue's appeal on both issues was dismissed, emphasizing the need to resolve disputes before assessing tax liability. en-us Fri, 22 Jan 2021 00:00:00 +0530 Wed, 28 Jul 2021 18:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403321 The Tribunal upheld the allowance of depreciation for charitable institutions, following precedents allowing both capital expenditure and depreciation as application of income. Regarding the recognition of income related to disputed space rent, the Tribunal ruled in favor of the assessee, stating that taxability cannot be determined until disputes are resolved. The Revenue's appeal on both issues was dismissed, emphasizing the need to resolve disputes before assessing tax liability. Case-Laws Income Tax Fri, 22 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403321