https://www.taxtmi.com/caselaws?id=795602 For charitable trusts, section 11(6) prevents depreciation where asset acquisition has already been claimed as application of income, but verified capital expenditure incurred in the relevant year may still qualify as application under sections 11 and 12. Expenditure incurred before charitable activities commence cannot be deferred and claimed as application in later years, because the statutory framework permits only eligible expenditure actually incurred during the relevant year from that year's income, subject to permissible accumulation. The assessment should be recomputed using verified current-year capital and other eligible expenditure, with penalty reconsidered consequentially. en-us Wed, 15 Jul 2026 00:00:00 +0530 Fri, 24 Jul 2026 08:36:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795602 For charitable trusts, section 11(6) prevents depreciation where asset acquisition has already been claimed as application of income, but verified capital expenditure incurred in the relevant year may still qualify as application under sections 11 and 12. Expenditure incurred before charitable activities commence cannot be deferred and claimed as application in later years, because the statutory framework permits only eligible expenditure actually incurred during the relevant year from that year's income, subject to permissible accumulation. The assessment should be recomputed using verified current-year capital and other eligible expenditure, with penalty reconsidered consequentially. Case-Laws Income Tax Wed, 15 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795602