https://www.taxtmi.com/caselaws?id=294596 The Tribunal upheld the Commissioner of Income Tax(A)'s decision to allow depreciation on assets claimed as application of income by an educational trust registered under section 12A of the Income Tax Act. The Tribunal relied on precedents from Punjab and Haryana High Court and ITAT Chennai, emphasizing that depreciation on trust assets is deductible for computing income under Section 11. The Revenue's appeal was dismissed, affirming the CIT(A)'s order allowing the educational trust's claim of depreciation. en-us Wed, 06 Nov 2013 00:00:00 +0530 Thu, 22 Apr 2021 14:14:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294596 The Tribunal upheld the Commissioner of Income Tax(A)'s decision to allow depreciation on assets claimed as application of income by an educational trust registered under section 12A of the Income Tax Act. The Tribunal relied on precedents from Punjab and Haryana High Court and ITAT Chennai, emphasizing that depreciation on trust assets is deductible for computing income under Section 11. The Revenue's appeal was dismissed, affirming the CIT(A)'s order allowing the educational trust's claim of depreciation. Case-Laws Income Tax Wed, 06 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294596