Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (11) TMI 1222 - ITAT AHMEDABADDepreciation to assessee trust - accumulation of income - carry forward deficit @ 15% - whether, for the purposes of section 11(l)(a) of the Income-tax Act, 1961, the amount for the grant of exemption of twenty-five per cent, should be the income of the trust or it should be its total income as determined for the purposes of assessment to income-tax? - HELD THAT:- depreciation claimed on the assets acquired from income of trust did not amount to double deduction. Accumulation of income - carry forward deficit @ 15% - Held that:- Following the decision of Apex Court in the case of CIT vs. Programme For Comminity Organisation [2000 (11) TMI 4 - SUPREME COURT], decided in favor of assessee.
|