Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (9) TMI 1584 - ITAT AHMEDABADDeprecation to assessee trust - as contented with effect from 01.04.2015 by amendment u/s 11(6) by Finance Act, 2015, the double claim of depreciation has been barred with effect from 01.04.2015. Thus, up to 31.03.2014, the assets of the trust, acquired by application of income, are eligible for claim of depreciation - , whether the ld. CIT(A) was justified in allowing the claim of depreciation? - HELD THAT:- Respectfully following the ITAT judgment in the case of Institute of Plasma Research [2011 (2) TMI 1587 - ITAT AHMEDABAD] relying on judgment in the case of Sheth Manilal Ran Chhoddas Vishram Bhavan Trust [1992 (2) TMI 51 - GUJARAT HIGH COURT] and the amendment u/s 11(6) by Finance Act, 2015 with effect from 01.04.2015, we uphold the order of ld. CIT(A). Thus, both the Revenue’s appeals are dismissed.
|