https://www.taxtmi.com/caselaws?id=420488 The Tribunal allowed the appeals of both assessees, emphasizing the importance of considering normal depreciation as a legitimate deduction for computing the real income of a charitable trust. The direction by the Ld. CIT(A) to exclude depreciation from gross receipts for computing accumulation of 15% was deemed unjustified based on the legal principles established by the Hon'ble Supreme Court. en-us Thu, 17 Mar 2022 00:00:00 +0530 Sat, 02 Apr 2022 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420488 The Tribunal allowed the appeals of both assessees, emphasizing the importance of considering normal depreciation as a legitimate deduction for computing the real income of a charitable trust. The direction by the Ld. CIT(A) to exclude depreciation from gross receipts for computing accumulation of 15% was deemed unjustified based on the legal principles established by the Hon'ble Supreme Court. Case-Laws Income Tax Thu, 17 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420488