2013 (1) TMI 845

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.... the Respondent: Shri S.N. Soparkar with Mrs. U. Shodhan ORDER PER : D.K. TYAGI, JUDICIAL MEMBER This is Revenue's appeal against the order of ld. CIT(A)-XXI, Ahmedabad dated 20.09.2012. 2. Revenue has taken following grounds of appeal:- "1. The ld. CIT(A) has erred in law and on facts in deleting the disallowance of depreciation of Rs. 35,72,478/- made by the A.O. 2. The ld. CIT....

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....lved in this appeal is now covered in favour of the assessee and against the Revenue by the decision of Hon'ble Gujarat High Court in the case of Director of Income Tax (Exemption) vs. Ahmedabad South Indian Charitable Trust dated 09.08.2012 in Tax Appeal No.439 of 2012 wherein the Hon'ble High Court formulated the following substantial questions of law:- "[A] Whether the Appellate Tribunal has....

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....ccount of application of income, should not be treated as Nil for the purpose of depreciation?" and on these questions it was held as under:- "All these three questions raised by the department against the assessee available for Assessment Year 2005-06 and 2006-07 and the order of the Tribunal has been upheld by the Division Bench of this Court in Tax Appeal No.933 of 2010. This tax appeal h....