https://www.taxtmi.com/caselaws?id=463343 ITAT allowed depreciation on capital assets acquired out of income exempt under section 11 for the limited purpose of computing the percentage of income required to be applied for charitable purposes, holding that such allowance does not amount to an impermissible double deduction under the trust-specific scheme. The Tribunal also held that the assessee's consistently followed accounting treatment for accrued interest and TDS receivable, previously accepted in an earlier assessment, must be respected; unilateral addition of those amounts to gross receipts in the year under appeal was not sustained. en-us Mon, 17 Jun 2013 00:00:00 +0530 Wed, 27 Aug 2025 14:19:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463343 ITAT allowed depreciation on capital assets acquired out of income exempt under section 11 for the limited purpose of computing the percentage of income required to be applied for charitable purposes, holding that such allowance does not amount to an impermissible double deduction under the trust-specific scheme. The Tribunal also held that the assessee's consistently followed accounting treatment for accrued interest and TDS receivable, previously accepted in an earlier assessment, must be respected; unilateral addition of those amounts to gross receipts in the year under appeal was not sustained. Case-Laws Income Tax Mon, 17 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463343