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2017 (11) TMI 1563 - AT - Income TaxDisallowance of depreciation to assessee trust - denial of deduction as it amounts to be double deduction as the assessee has claimed the exemption under section 11 - Held that:- The assessee is entitled for deduction of depreciation even if in the year of purchase of the asset, the entire amount has been considered as application of income. See CIT v. Society of the Sisters of St. Anne [1983 (8) TMI 44 - KARNATAKA High Court] - Decided against revenue
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