https://www.taxtmi.com/caselaws?id=406770 The High Court dismissed the Revenue's appeals challenging the Income Tax Appellate Tribunal's orders for assessment years 2005-06 & 2006-07. The court upheld that depreciation claimed by the assessee for fixed assets acquired for charitable purposes under Section 11 did not lead to double deduction, aligning with legislative intent. Citing Supreme Court and previous High Court decisions, the court ruled against the Revenue, following consistent legal interpretations. The appeals were dismissed without costs, maintaining conformity with established legal principles and preventing double deductions for entities seeking exemption under Section 11. en-us Wed, 17 Mar 2021 00:00:00 +0530 Fri, 23 Apr 2021 21:02:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406770 The High Court dismissed the Revenue's appeals challenging the Income Tax Appellate Tribunal's orders for assessment years 2005-06 & 2006-07. The court upheld that depreciation claimed by the assessee for fixed assets acquired for charitable purposes under Section 11 did not lead to double deduction, aligning with legislative intent. Citing Supreme Court and previous High Court decisions, the court ruled against the Revenue, following consistent legal interpretations. The appeals were dismissed without costs, maintaining conformity with established legal principles and preventing double deductions for entities seeking exemption under Section 11. Case-Laws Income Tax Wed, 17 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406770