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2016 (1) TMI 1118 - AT - Income TaxExemption u/s 11 - disallowance of expenditure as having been incurred in foreign currency and hence, cannot be considered as applied for charitable purposes in India - Held that:- In the present case no evidence whatsoever of either of the educational qualification or the nature of services rendered by Ms.Trishtha to the trust has been established by acceptable evidence, though there was only a oral assertion by the Assessee in this regard. The CIT(A) had specifically called upon the Assessee to prove with documentary evidence the manner in which services of Ms.Trishtha were utilized by the Assessee. In the given circumstances, we are of the view that the conclusions drawn by the CIT(A) are correct and calls for no interference. - Decided against assessee. Depreciation claim on asset held by trust - double deduction - Held that:- Depreciation can be claimed by a charitable institution in determining percentage of funds applied for the purpose of charitable objects. See Commissioner of Income-tax Versus Market Committee, Pipli [2010 (7) TMI 374 - Punjab and Haryana High Court] - Decided in favour of assessee.
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