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2018 (7) TMI 1477 - AT - Income TaxExemption u/s 11 - addition on account of hostel surplus fee received by the assessee by treating the same as business income u/s 11(4)/11(4A) - Held that:- Addition on account of hostel surplus fee received by the assessee by treating the same as business income u/s 11(4)/11(4A) as decided in KARNATAKA LINGAYAT EDUCATION SOCIETY [2015 (5) TMI 260 - KARNATAKA HIGH COURT] in favour of the assessee held that ‘providing hostel to the students/staff working for the society is incidental to achieve the object of providing education, namely the object of the society’ Deprecation claim of assessee trust - Held that:- As relying on COMMISSIONER OF INCOME TAX -III, PUNE VERSUS RAJASTHAN AND GUJARATI CHARITABLE FOUNDATION POONA [2017 (12) TMI 1067 - SUPREME COURT] AO/CIT have erred in making/affirming additions on account of depreciation claimed by the assessee, hence ordered to be deleted. In view of what has been discussed above, present appeal filed by the assessee is allowed.
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