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AO directed to ascertain the Income applied by a trust as per section 11(6). Income to be applied without depreciation.
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....The ITAT Chennai assessed a trust's income application. The trust argued excess income application, potentially eliminating tax liability despite depreciation claim. ITAT noted u/s 11(6) disallowing depreciation on assets claimed as income application. The issue was remanded to AO for fresh income application review. The appeal was allowed for statistical purposes.....