https://www.taxtmi.com/caselaws?id=296407 The Tribunal allowed the Revenue's appeals, dismissing the assessee's cross objections and affirming the decision to disallow the claim of depreciation by the trust. The Tribunal emphasized that a charitable trust cannot claim depreciation after treating the cost of acquisition as application of income under section 11. The decision was based on the interpretation of relevant provisions and judicial precedents, highlighting the importance of adhering to the real income concept and principles of fiscal statute interpretation. en-us Wed, 17 Feb 2016 00:00:00 +0530 Tue, 20 Jul 2021 10:12:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296407 The Tribunal allowed the Revenue's appeals, dismissing the assessee's cross objections and affirming the decision to disallow the claim of depreciation by the trust. The Tribunal emphasized that a charitable trust cannot claim depreciation after treating the cost of acquisition as application of income under section 11. The decision was based on the interpretation of relevant provisions and judicial precedents, highlighting the importance of adhering to the real income concept and principles of fiscal statute interpretation. Case-Laws Income Tax Wed, 17 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296407