https://www.taxtmi.com/caselaws?id=754372 ITAT Delhi allowed the assessee trust's appeal regarding depreciation claim and exemption under sections 11-13. The trust, registered under Societies Registration Act 1860 and section 12A as charitable society under STPI scheme, was denied depreciation by AO but CIT(A) allowed it. Following precedent from AY 2012-13, ITAT confirmed the trust's charitable status, noting its objective to encourage IT development and that income benefits public at large, not individuals. Revenue's appeal was dismissed. en-us Wed, 10 Apr 2024 00:00:00 +0530 Fri, 21 Jun 2024 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754372 ITAT Delhi allowed the assessee trust's appeal regarding depreciation claim and exemption under sections 11-13. The trust, registered under Societies Registration Act 1860 and section 12A as charitable society under STPI scheme, was denied depreciation by AO but CIT(A) allowed it. Following precedent from AY 2012-13, ITAT confirmed the trust's charitable status, noting its objective to encourage IT development and that income benefits public at large, not individuals. Revenue's appeal was dismissed. Case-Laws Income Tax Wed, 10 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754372