2014 (3) TMI 1020

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....endra Prasad, JM: This appeal is filed 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,....

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....ssing Officer as well as Commissioner of Income 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 mad....

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....ation, do not result in double deduction". Respectfully 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 h....