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2012 (12) TMI 1070 - AT - Income TaxApplicability exemption u/s 11 - can depreciation be claimed as application of income - Held that the assessee is eligible for exemption and cannot be assessed as an AOP - when different views are available then views favourable to the assessee should be adopted - the claim of depreciation on fixed assets utilized for the charitable purpose has to allowed while arriving at the income available for application to charitable and religious purposes since the income of the assessee should be computed on the basis of commercial principle - [ DIT vs. Vishwa Jagriti Mission 2012 (4) TMI 289 (Del.)] - Decided in favor of assesse
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