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2013 (4) TMI 771 - AT - Income TaxDepreciation in case of ‘trusts’ - whether it amounts to double deduction or not? - Held that:- There are two different court judgments one favoring and one against assessee. Thus faced with this situation, we draw support from the case law CIT Vs. Vegetable Products (1973 (1) TMI 1 - SUPREME Court) holding that in case of divergent judicial precedents, the one which favours the assessee has to be adopted and confirm the CIT(A)’s findings allowing the claim of depreciation holding it as “application of income on stated charitable objects” - Decided in favour of assessee.
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