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2013 (4) TMI 798 - ITAT CHENNAIDepreciation claim by assessee trust - Held that:- Hon’ble Supreme Court in the case of CIT v. Vegetable Products Ltd. (1973 (1) TMI 1 - SUPREME Court ) where the Apex Court has held that when different views are available on the subject, the views favourable to the assessee should be adopted. It is in the light of the above legal pronouncement that the Tribunal has held that the assessee can claim depreciation even though capital expenditure have been treated as application of funds for charitable purposes.
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