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2020 (12) TMI 411 - AT - Income TaxDisallowance of depreciation to assessee trust - HELD THAT:- In assessee’s own case for A.Y. 2005-06 and 2010-11 the assessing officer made similar additions, however on appeal before Ld. CIT(A) the disallowances were deleted. On further appeal before Tribunal the order of Ld. CIT(A) was upheld. Disallowance of claim under section 11(1)(a) of the Act i.e. 15% of the total income before application of expenses - HELD THAT:- There is no bar in law and there is no specific provision in the act which says that such deduction of 15% for accumulation will not be allowed in case of deficit but such 15% accumulation is allowable irrespective of whether 15% of income have been applied or not - See Gnyan Dham Vapi Charitable Trust [2020 (10) TMI 238 - ITAT AHMEDABAD].
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