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2017 (2) TMI 1396 - AT - Income TaxCharitable activity u/s 2(15) - 'hostel facility' of the school provided exclusively to students of the school - whether not an integral part of "education" u/s 2(15) - but is a separate business activity in terms of section 11 (4A)? - Income for 'charitable purposes' - Held that:- Referring to the order of Director of Income Tax (Exemption) vs. Indraprastha Cancer Society [2014 (11) TMI 733 - DELHI HIGH COURT] wherein has held that where a charitable institution, which has purchased capital assets and treated amount spent on purchase of capital asset as application of income, is entitled to claim depreciation on same capital asset utilized for business. - Decided in favour of assessee
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