https://www.taxtmi.com/caselaws?id=311484 The Tribunal dismissed the Revenue's appeal, affirming the decision of the Commissioner of Income Tax (Appeals) to allow depreciation claims by the assessee engaged in charitable activities. The Tribunal concluded that the assessee was entitled to depreciation without double deduction, aligning with previous decisions by the HC and the Tribunal. The Tribunal upheld the application of income under section 11 of the Income Tax Act, 1961, and emphasized consistency with prior rulings, rejecting the Revenue's argument of double deduction contrary to Supreme Court judgments. en-us Fri, 24 Jul 2015 00:00:00 +0530 Thu, 28 Dec 2023 20:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311484 The Tribunal dismissed the Revenue's appeal, affirming the decision of the Commissioner of Income Tax (Appeals) to allow depreciation claims by the assessee engaged in charitable activities. The Tribunal concluded that the assessee was entitled to depreciation without double deduction, aligning with previous decisions by the HC and the Tribunal. The Tribunal upheld the application of income under section 11 of the Income Tax Act, 1961, and emphasized consistency with prior rulings, rejecting the Revenue's argument of double deduction contrary to Supreme Court judgments. Case-Laws Income Tax Fri, 24 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311484