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2014 (4) TMI 749 - DELHI HIGH COURTViolation of section 11(4) and 11(4A) of the Act – Entitlement for exemption – Held that:- There is no reason to interfere with the findings of the Tribunal in the order so far as the question of entitlement to the benefit of exemption u/s 11 is concerned – also, there is no error in the findings with respect to violation of Section 11 (4) and 11 (4A) of the Act. Deduction for legitimate expenses and depreciation – Held that:- No findings were recorded by the CIT(A) with respect to the permissible heads of expenditure including depreciation - The Tribunal merely set aside the order of the CIT (A) having regard to the findings of the Court in the previous years – thus, the matter is required to be remitted back to the AO for examination of the aspect of granting allowability of expenditure and depreciation – Decided partly in favour of Assessee.
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