TaxTMI 
TaxTMI 
2014 (3) TMI 1020
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.... by the Revenue against the order of the Commissioner of Income Tax (Appeals)-I, Coimbatore dated 21.8.2013 for the assessment year 2010-11. The only grievance of the Revenue is that Commissioner of Income Tax (Appeals) erred in allowing the claim of depreciation holding it as application of income on stated charitable objects. 2. At the time of hearing, none appeared on behalf of the assessee, i....
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.... Tax (Appeals), we find that the issue in appeal is squarely covered in favour of the assessee by various decisions of the co-ordinate Bench of this Tribunal and in fact Commissioner of Income Tax (Appeals) followed those decisions of the Tribunal and allowed the claim of the assessee observing as under:- "6. I have gone through the submissions made by the appellant and also the order of the Asse....
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....tfully following the orders of the ITAT, the Assessing Officer is directed to allow depreciation claimed by the trust. 7. The Hon'ble ITAT 'A Bench, Chennai in its order dated 17th April, 2013 in the case of M/s. CMS Educational and Charitable Trust, M/s B.A.Educational Trust, M/s Sakthi Foundation in ITA Nos.2261, 2262 and 2263 clearly held that "As already stated herein above, the sole....