Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (12) TMI 676 - AT - Income TaxDisallowance of depreciation to assessee trust - double deduction - Held that:- Tribunal in the case of Accion Technical Advisors India Vs. The Asst. Director of Income-Tax (Exemptions), Bangalore (2015 (11) TMI 634 - ITAT BANGALORE ), held that the assessee was entitled to the benefit of depreciation irrespective whether the cost of the said asset on which the depreciation is claimed has been allowed as an application of income in the previous years. The tribunal had taken note of the amendment effected by the Finance (No. 2) Act, 2014 w.e.f 1.4.2015 and held the amendment is prospective and does not have application for the years prior to AY 2015-16. - Decided in favour of assessee
|