2021 (2) TMI 536

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....the Appellant : K. Sowmya, Advocate For the Respondents : Priyadarshi Mishtra, Addl. CIT (D.R.) ORDER Chandra Poojari, Member (A) This appeal filed by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-14, Bangalore dt. 12.10.2017 for the Assessment Year 2008-09. 2. The assessee has raised the following grounds: "1. The Hon'ble Commission....

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.... Act, 1961 ('the Act'). The income of the trust is derived from its printing activities. The printing activity is a business undertaking and a property held under Trust within the meaning of the expression u/s. 11(4) of the Act. The Assessing Officer is of the opinion that while available income was only Rs. 79,00,108 the actual amount spent was Rs. 3,40,69,541 resulting in a deficit of Rs....

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..... 7,35,018 as depreciation admissible, but the Assessing Officer held that deduction on account of depreciation cannot be allowed in computing the income of a charitable Trust as the Trust is allowed a deduction towards capital expenditure and a claim for double deduction cannot be entertained. Aggrieved by the assessment order, the assessee appealed before the CIT (Appeals). The CIT (Appeals) all....

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....hearing, the learned Authorised Representative submitted that the computation made by the learned CIT (Appeals) in para 5.5 is totally wrong and he has not given reason for adopting the value of the assets purchased during the year under consideration at Rs. 7,15,540. According to the learned Authorised Representative the issue may be remitted to the file of CIT (Appeals) to pass a speaking order ....