Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2016 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (2) TMI 1174 - HC - Income TaxDisallowance of Depreciation - appellant is a charitable institution u/s 12A - Held that:- It is well settled that in computing income of a charitable institution/trust depreciation of assets owned by such an institution is a necessary deduction on commercial principles, hence, the amount of depreciation has to be deducted to arrive at the income available. This view is substantiated by a Division Bench judgment of this Court in Commissioner of Income Tax-II, Jodhpur Vs. Krishi Upaj Mandi Samiti, Jaisalmer (2015 (3) TMI 11 - RAJASTHAN HIGH COURT). In view of it, we are of the considered opinion that this appeal does not involve any substantial question of law
|