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2015 (11) TMI 849 - ITAT BANGALOREClaim of depreciation on the assets, cost of which was allowed as a part of utilisation - assessee is a trust registered under section 12A - Held that:- Issue of the assessee's claim for depreciation on addition to assets acquired in the relevant period is to be allowed even if the entire cost of the same assets have been claimed by the assessee and allowed as application of its income for charitable purposes, since this issue has been held in favour of the assessee in a number of decisions of the co-ordinate Bench of this Tribunal in the case of Asst. CIT v. Shri Adichunchana giri Shikshana Trust [2013 (11) TMI 123 - ITAT BANGALORE] following the decision of the hon'ble Bombay High Court in the case of CIT v. Institute of Banking [2003 (7) TMI 52 - BOMBAY High Court]. - Decided in favour of assessee.
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