https://www.taxtmi.com/caselaws?id=298559 The Tribunal ruled in favor of the assessee, determining that the hostel and transportation facilities provided were integral to educational activities and not separate business activities. It was held that the surplus generated from hostel activities was not to be treated as business income but as subservient to the educational objectives of the society. Additionally, the Tribunal allowed the depreciation claimed by the assessee, emphasizing that disallowing it would not present a true and fair view of the trust's financial state. All additions made by the authorities below were deleted. en-us Wed, 30 May 2018 00:00:00 +0530 Tue, 09 Nov 2021 20:15:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298559 The Tribunal ruled in favor of the assessee, determining that the hostel and transportation facilities provided were integral to educational activities and not separate business activities. It was held that the surplus generated from hostel activities was not to be treated as business income but as subservient to the educational objectives of the society. Additionally, the Tribunal allowed the depreciation claimed by the assessee, emphasizing that disallowing it would not present a true and fair view of the trust's financial state. All additions made by the authorities below were deleted. Case-Laws Income Tax Wed, 30 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298559