2014 (8) TMI 1046

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....arayanan, JDI(E) For the Respondent : Shri. A.S. Sriraman, Advocate ORDER PER S.S. GODARA, JUDICIAL MEMBER This Revenue's appeal for assessment year 2010-11; emanates from order dated 10.10.2013 passed by the Commissioner of Income Tax (Appeals)-VII, Chennai in ITA No.116/2013-14 in proceedings under section 143(3) of the Income Tax Act 1961 [in short the "Act"]. 2. The Revenue's so....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....11 of the Act. Accordingly, he disallowed/added this sum of Rs. 60,14,349/-. 4. In assessee's appeal, the CIT(A) has deleted the disallowance as under:- "I have gone through the view of the Assessing Officer and the above decisions and also a decision of the Income Tax Appellate Tribunal, 'A' Bench, Chennai in the case of the ITO, Company Ward - I Vs. M/s. CMS Educational & Charitable Trust,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ect the Assessing Officer to allow depreciation of Rs. 60,14,349/-.'' Therefore, the Revenue is in appeal. 5. We have heard both sides and perused the case file. Admittedly, the CIT(A) has followed order of the 'tribunal' holding that a claim of depreciation alike the case involved herein is allowable in case of a charitable trust who has included assets in application/exemption u/s.11A of t....