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2019 (10) TMI 1082 - HC - Income TaxDepreciation on the assets of assessee trust - HELD THAT:- The substantial question of law, which has been framed in these appeals, has been answered against the Revenue by the Hon'ble Supreme Court in CIT vs. Rajasthan and Gujarati Charitable Foundation [2017 (12) TMI 1067 - SUPREME COURT] in which held that the assessee Trust is entitled to depreciation on the assets acquired by the expenditure incurred for acquisition of the assets by way of application of income for charitable purposes under Section 11(1)(a) - Decided in favour of assessee.
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