https://www.taxtmi.com/caselaws?id=310785 For assessment years before the prospective amendment, depreciation on fixed assets used by a charitable trust remained allowable as application of income even where the asset cost had already been treated as application, and the claim was not regarded as a double deduction in those pre-amendment years. The depreciation claim was therefore allowed. Receipts claimed as corpus donations, loss on sale of assets, and refund of caution money were not sufficiently substantiated on the existing record, so those matters were restored for fresh verification and decision on evidence and law. The trust obtained only partial relief. en-us Wed, 26 Jul 2023 00:00:00 +0530 Thu, 16 Nov 2023 20:50:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310785 For assessment years before the prospective amendment, depreciation on fixed assets used by a charitable trust remained allowable as application of income even where the asset cost had already been treated as application, and the claim was not regarded as a double deduction in those pre-amendment years. The depreciation claim was therefore allowed. Receipts claimed as corpus donations, loss on sale of assets, and refund of caution money were not sufficiently substantiated on the existing record, so those matters were restored for fresh verification and decision on evidence and law. The trust obtained only partial relief. Case-Laws Income Tax Wed, 26 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310785