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2021 (8) TMI 1387 - AT - Income TaxExemption u/s 11 - AO examined the activity of the assessee and held that it falls under General Public Utility and is charging fees from customers and has obtained Intellectual Property Rights (IPR) from Belgium and transferring through license agreement use of such IPR and un-species, thus covered by the proviso to Section 2(15) - whether assessee’s activities are not within the purview of the section 2(15)? - CIT(A) allowed deduction - HELD THAT:- Revenue could not show us that the above order of the co-ordinate bench has been reversed by the Hon’ble High Court. In view of this the order of the co-ordinate bench in assessee’s own case for earlier year binds - Accordingly, we hold that the assessee is entitled to the benefit of Section 11 and 12 of the Act and there is no infirmity in the order of the ld. CIT (Appeals). Accordingly, ground No. 1 of both the appeals are dismissed. Claim of the depreciation, despite the assessee has claimed the whole cost of the assets as application of the income at the time of purchase of those assets has been allowed by the ld. CIT (Appeals) following the decision of Indraprastha Cancer Society [2014 (11) TMI 733 - DELHI HIGH COURT] - We do not find any infirmity in the order of the ld. CIT (Appeals) in allowing the claim of depreciation to the assessee for both the years.
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