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2021 (9) TMI 1486 - AT - Income TaxAssessment of trust - Exemption u/s 11 - Surplus received - HELD THAT:- Surplus received was deleted by the CIT(A) based on the earlier order for A.Y. 2010-11 and the stand of the assessee was accepted by the Revenue in that year. Thus, Ground No. 1 of the Revenue’s appeal in the present Assessment Year is dismissed. Depreciation claim - As during the year under consideration, the assessee in its books of account claimed depreciation on the movable assets of the Trust, however this depreciation amount was added back in the return of income and was not claimed as application of income which is evident from the balance sheet and computation of income. Thus, Ground No. 2 of the Revenue’s appeal is dismissed. Inter organization donation received - ITAT upheld the findings of the CIT(A) when such additions made was found to be untenable. The facts are similar in the present assessment year 2014-15, hence Ground No. 3 of the Revenue’s appeal is dismissed. Corpus donations are not the income since it has been specifically received by way of corpus and this view is upheld by the Tribunal in A.Y. 2010-11. Thus, Ground No. 4 of the Revenue’s appeal is dismissed. Revenue has not pointed out any distinguishing facts in the present Assessment Year to that of earlier Assessment Years. Therefore, all the grounds of the Revenue are dismissed.
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