2021 (4) TMI 548

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....aswamy Senior Standing Counsel For Respondent : No Appearance JUDGMENT (Judgment was delivered by M. DURAISWAMY, J.) Challenging the order passed in I.T.A.No.1772/Mds/2012 in respect of the Assessment Year 2009-2010 on the file of the Income Tax Appellate Tribunal, Chennai,"C" Bench (for brevity, the Tribunal), the Revenue has filed the above appeal. 2. The respondent-assessee is a ....

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....ied in determining the income for the purpose of section 11 of the Act. Aggrieved over the order passed by the Assessing Officer, the assessee preferred an appeal before the Commissioner of Income Tax(Appeals), who allowed the appeal in favour of the assessee and held that the depreciation is to be deducted in arriving at the total income of the assessee. Aggrieved by the order of CIT (Appeals), t....

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.... (iii) Whether in law and in the facts and in the circumstances of the case, the Tribunal is right in holding that allowing the depreciation claim of the assessee would not result in double deduction, though the entire costs of the depreciable assets have already been allowed as as application of income towards objects of the trust?" 3. .When the appeal is taken up for hearing, Mr.J.Narayanasa....

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....sthan and Gujarati Charitable Foundation reported in [2018] 402 ITR 441 (SC). Further, the learned Senior Standing Counsel submitted that following the decision of the Hon'ble Supreme Court, the Hon'ble Division Bench of this Court, by judgment dated 26.08.2019, made in T.C.A.Nos.680 & 681 of 2011 [Commissioner of Income Tax - I, Tiruchirapalli Vs. M/s.National College Council, P.B.No.369,....