2014 (12) TMI 1229

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....the Respondent: Shri Saroj Kumar Parida, Advocate O R D E R PER V. DURGA RAO, JUDICIAL MEMBER: This appeal filed by the Revenue is directed against the order of the Commissioner of Income Tax (Appeals) I, Coimbatore, dated 11.06.2014 relevant to the assessment year 2010-11. 2. Brief facts of the case are that the assessee is public charitable trust duly registered under section 12A of ....

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....the Assessing Officer. 6. On the other hand, the ld. Counsel for the assessee has strongly supported the order passed by the ld. CIT(A) and relied on the decision of the Tribunal in I.T.A. No. 2261/Mds/2012, etc. 7. We have heard both sides, perused the materials on record and gone through the orders of authorities below. The only issue raised for our consideration is whether the depreciatio....

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..... The three assessees before us are 'Trusts' and 'scrutiny' assessments were finalized in their cases. Therein, the Assessing Officer(s) rejected their claim of deprecation on assets by holding that under sec 11 of the Act, since capital expenditure incurred by a trust is allowable as deduction, therefore, relief qua deprecation would lead to double deduction. 7. In appeal by the assessees, the....

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....Hon'ble Punjab and Haryana High Court (supra). Faced with this situation, we draw support from the case law CIT Vs. Vegetable Products 88 ITR 192 (SC), holding that in case of divergent judicial precedents, the one which favours the assessee has to be adopted and confirm the CIT(A)'s findings."   8. The ld. DR has not brought on record any material to show that the above decision of the Tr....