2019 (4) TMI 1043

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.... Rajesh Shah & Co. for Respondent. ORDER P. C. :­ 1. The Revenue is in appeal against the Judgment of the Income Tax Appellate Tribunal. Following questions are presented for our consideration. "(i) Whether on the facts of the case and in law the ld. ITAT erred in allowing the appeal of the assessee on account of disallowing depreciation on fixed assets of Rs. 30,88,92,604/&s....

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....unt to double deduction on account of expenditure out of exempt income?" 2. Question No.(i) is squarely covered against the Revenue by the Judgment of Supreme Court in the case of Commissioner of Income Tax­III, Pune Vs. Rajasthan & Gujarati Charitable Foundation Poona. [2018] 89 taxmann.com 127 (SC) 3. So far as Question No.(ii) is concerned also, the same stands concluded. The Supreme ....