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2014 (2) TMI 1224 - AT - Income TaxDepreciation claimed by the trust - assessee is a trust registered u/s.12A - Held that:- The CIT(Appeals) followed the order of the Tribunal in the case of M/s. CMS Educational & Charitable Trust in [2013 (4) TMI 771 - ITAT CHENNAI] and allowed the appeal of the assessee placed reliance on the decisions of the Hon’ble Punjab & Haryana High Court in the case of CIT Vs. Tiny Tots Education Society reported as [ 2010 (7) TMI 377 - Punjab and Haryana High Court ] and CIT Vs. Market Committee, Pipli reported as [2010 (7) TMI 374 - Punjab and Haryana High Court ], wherein it has been held that claim of depreciation do not result in double deduction. The CIT(Appeals) applied the ratio laid down in the case of CIT Vs. Vegetable Products Ltd., reported as (1973 (1) TMI 1 - SUPREME Court ) and decided the issue in favour of the assessee.
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