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2013 (4) TMI 771
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....SATBEER SINGH GODARA, JUDICIAL MEMBER Appellant by : Shri. N. Madhavan, JCIT. Respondent by : Shri. P.S. Prabhakar, C.A. ORDER PER SATBEER SINGH GODARA, JUDICIAL MEMBER These Revenue's appeals in cases pertaining to different assessees, emanate from separate orders of the Commissioner of Income Tax (Appeals)-I, Coimbatore, dated 10.10.2012, 19.10.2012 and 19.10.2012 in I.T.A. Nos.18....
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....already been allowed as "application of income towards objects of the trust"; and, therefore, again allowing of the deprectiation on the same assets, holding it as application of income for charitable purposes would amount to allowance twice, as held by Honourable Supreme Court, in the case of Escorts India Limited Vs Union of India (199 ITR 43). (iv) The ratio of the Judicial decisions relied ....
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....rated the pleadings and prayed for acceptance of the appeals and to restore the orders of the Assessing Officer. 4. Per contra, the assessees submitted a plethora of case law to support the CIT(A)'s orders and reasons contained therein. In light thereof, the authorized representative prayed for rejection of appeals. 5. We have heard the parties and perused the case files. 6. The three ass....
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....ixed assets. 8. This leaves the Revenue aggrieved. 9. As already stated hereinabove, the sole issue involved is depreciation in case of 'trusts' i.e., whether it amounts to double deduction or not. We find that, the Revenue has relied on a decision of Hon'ble Kerala High Court (pleaded in the grounds) and on the other hand, the assessees draw support from the decisions of the Hon'ble Punjab ....