https://www.taxtmi.com/caselaws?id=406432 Depreciation on assets used by a charitable trust for charitable objects is allowable as application of income under section 11, and the allowance does not amount to impermissible double deduction merely because the acquisition cost was earlier treated as application of income. The governing principle, as applied by the Madras HC following the Supreme Court and earlier connected decisions, was decided in favour of the assessee, so the Revenue's challenge failed. en-us Thu, 08 Apr 2021 00:00:00 +0530 Tue, 13 Apr 2021 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406432 Depreciation on assets used by a charitable trust for charitable objects is allowable as application of income under section 11, and the allowance does not amount to impermissible double deduction merely because the acquisition cost was earlier treated as application of income. The governing principle, as applied by the Madras HC following the Supreme Court and earlier connected decisions, was decided in favour of the assessee, so the Revenue's challenge failed. Case-Laws Income Tax Thu, 08 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406432