TaxTMI 
TaxTMI 
2015 (4) TMI 469
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....ance of the Revenue, is directed against the CIT(A)'s order dated 26.02.2012. The relevant assessment year is AY 2009-10. 2. The effective ground raised reads as follows:- "1. On the facts and circumstances of the case and in law, the Ld CIT(A) has erred in allowing the double deduction as the value of assets has been claimed as application of income. 2. On the facts and circumstances of th....
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....9;ble Punjab & Haryana High Court in the case of CIT Vs. Tiny Tots Education Society reported in 330 ITR 21( P&H), and judgment of Hon'ble jurisdictional Delhi High Court in the case of Vishwa Jagriti Mission reported in 2012-TIOL-271-HC-DEL-IT. The CIT(A) also placed reliance on Tribunal order in assessee's own case for AY 2007-08. 5. The Revenue being aggrieved is in appeal before us. T....
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....AT in the appellant's own case for A. Yr. 2007-08, wherein, Hon'ble ITAT has allowed the issue in favour of the appellant by relying on the judgement of Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Tiny Tots Education Society. Furthermore, similar issue has been decided by Hon'ble Delhi High Court in the latest judgement in the case of Vishwa Jagriti Mission, wherein,....
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....nt case, we are not concerned with the applicability of these provisions. We are concerned only with the concept of commercial income as understood from the accounting point of view. Even under normal commercial accounting principles, there is authority for the proposition that depreciation is a necessary charge in computing the net income. Secondly, the Supreme Court was concerned with the case w....