Court Rules Charitable Institutions Can Include Depreciation in Income Calculations u/s 11, Income Tax Act 1961.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Depreciation on the asset which were claimed as application u/s 11 at the time of purchase - ultimately assessee is a charitable institution and its income for tax purposes is required to be determined by taking into consideration provisions of Section 11 of the Act of 1961 after extending normal depreciation and deductions from its gross income. - HC....