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2012 (10) TMI 80 - ITAT JAIPUR
Depreciation on assets – alleged that same was already allowed as application of income with the grant of registration u/s 12AA(1) of I.T. Act, 1961 – Held that:- Depreciation as debited in the books will be allowable - amount of depreciation debited to accounts of a charitable institution is to be deducted to arrive at the income available for application to charitable and religious purposes – in favor of assessee