2018 (3) TMI 1933

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... ORDER PER R.S. SYAL, VP: This appeal filed by the Revenue is directed against the order passed by the CIT(A) on 15.06.2015 in relation to the assessment year 2012-13. 2. The first three grounds in this appeal dealing with a common issue are reproduced as under:- "On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in holding the assessee soci....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on of section 13(1), the trust will lose the exemption in respect of its entire income." 3. We have heard both the sides and perused the relevant material on record. It is observed from the assessment order that the Assessing Officer considered the case as covered u/s 13(1)(c) by following the view taken by him in his order for the assessment year 2009-10 onwards. The ld. CIT(A) overturned the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ly other issue raised in this appeal through the remaining grounds is against allowing the claim of depreciation amounting to Rs. 5,38,64,605/-. The A.O. did not allow the claim of depreciation on the premise that the purchase of assets was an application of income and hence the grant of depreciation would amount to double benefit. The ld. CIT(A) overturned the assessment order on this issue. 5....