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2013 (12) TMI 311 - MADHYA PRADESH HIGH COURT
Depreciation on fixed assets - charitable trust - the entire expenditure incurred towards purchase of fixed assets has already been claimed in entirety either in the current year or in earlier years Held that:- Following CIT v. Institute of Banking [2003 (7) TMI 52 - BOMBAY High Court] - The concept of normal commercial accounting principles should be applied while computing the income of the trust - Depreciation is a necessary charge in computing the net income - Decided against Revenue.