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2015 (9) TMI 800 - AT - Income TaxEntitlement to exemption under sec.11 - Held that:- Running of working womens hostel, womens service center and canteen is a commercial line which cannot be considered as charitable activity, so as to grant exemption u/s.11 of the Act. Accordingly, we are in agreement with the lower authorities and we deny the exemption under sec.11 of the Act. - Decided against assessee. Denial of depreciation on the assets purchased before the financial year 2008-09 - Held that:- As the income of the assessee has to be computed in accordance with strict principles of accounting after denying exemption u/s.11 of the Act. If written down value of assets is already zero, for allowing depreciation, the same cannot be considered in the assessment year under consideration. Accordingly, the appeal of the assessee for the assessment year 2009-10 is dismissed. - Decided against assessee.
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