https://www.taxtmi.com/caselaws?id=770677 The SC/Tribunal addressed three key issues in tax law regarding a charitable trust's income tax assessment. The court found procedural errors in the original assessment, specifically the failure to consider the assessee's submissions and evidence. The primary ruling restored the matter to the Assessing Officer for verification of whether asset acquisition costs were claimed as income application. The depreciation disallowance under Section 11(6) was deemed potentially unjustified without proper factual verification. en-us Wed, 22 Jan 2025 00:00:00 +0530 Thu, 15 May 2025 07:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770677 The SC/Tribunal addressed three key issues in tax law regarding a charitable trust's income tax assessment. The court found procedural errors in the original assessment, specifically the failure to consider the assessee's submissions and evidence. The primary ruling restored the matter to the Assessing Officer for verification of whether asset acquisition costs were claimed as income application. The depreciation disallowance under Section 11(6) was deemed potentially unjustified without proper factual verification. Case-Laws Income Tax Wed, 22 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770677