https://www.taxtmi.com/caselaws?id=779131 ITAT, Mumbai allowed the assessee trust's claim for depreciation, holding that since the trust was not registered under s.12A nor covered by s.35(1)(ii) provisions, ss.11-12 did not apply and, because the trust had not claimed asset purchase value as revenue expenditure, depreciation could not be disallowed as a double deduction; the AO was directed to delete the addition relating to depreciation. On carry-forward of deficit, although not arising from the assessment order, the AO was directed to consider the trust's submissions and authorities and, if entitled, to allow the benefit. en-us Tue, 26 Aug 2025 00:00:00 +0530 Mon, 29 Sep 2025 08:27:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779131 ITAT, Mumbai allowed the assessee trust's claim for depreciation, holding that since the trust was not registered under s.12A nor covered by s.35(1)(ii) provisions, ss.11-12 did not apply and, because the trust had not claimed asset purchase value as revenue expenditure, depreciation could not be disallowed as a double deduction; the AO was directed to delete the addition relating to depreciation. On carry-forward of deficit, although not arising from the assessment order, the AO was directed to consider the trust's submissions and authorities and, if entitled, to allow the benefit. Case-Laws Income Tax Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779131