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2018 (6) TMI 1040 - AT - Income TaxClaim of depreciation to assessee trust - assets cost of which were treated as application of income - assessee is a trust registered u/s.12A(a) - Held that:- We are of the opinion that ld. Commissioner of Income Tax (Appeals) was justified in holding that assessee was eligible to claim depreciation on assets, cost which was claimed as application of income. We do not find any reason to interfere with the order of the ld. Commissioner of Income Tax (Appeals). See CIT vs. Rajasthan and Gujarati Charitable Foundation Poona [2017 (12) TMI 1067 - SUPREME COURT] - Decided in favour of assessee.
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