https://www.taxtmi.com/caselaws?id=797588 Depreciation on fixed assets may be treated as application of income where the asset's acquisition cost has not been claimed as application of income in the same or an earlier year. Section 11(6) prevents depreciation only to the extent necessary to avoid a double deduction when capital expenditure on the relevant asset has already been treated as application of income. Where financial records establish that capital expenditure was not included in the application claimed and only depreciation was claimed, the statutory restriction does not apply. Depreciation is consequently allowable as application of income. en-us Tue, 18 Aug 2026 00:00:00 +0530 Tue, 25 Aug 2026 08:34:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797588 Depreciation on fixed assets may be treated as application of income where the asset's acquisition cost has not been claimed as application of income in the same or an earlier year. Section 11(6) prevents depreciation only to the extent necessary to avoid a double deduction when capital expenditure on the relevant asset has already been treated as application of income. Where financial records establish that capital expenditure was not included in the application claimed and only depreciation was claimed, the statutory restriction does not apply. Depreciation is consequently allowable as application of income. Case-Laws Income Tax Tue, 18 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797588