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2021 (3) TMI 1106 - ITAT DELHIExemption u/s 11 - objects of the assessee seems to be charitable, but the activities carried out by the assessee are commercial in nature - Claim of deprecation on assets used by assessee trust - HELD THAT:-As in assessee's own case [2018 (7) TMI 1478 - ITAT DELHI] Assessing Officer (AO) had ruled that the assessee was disentitled to the exemptions. The CIT(A) and the ITAT, however, reversed the decision and relied upon the decision of this Court in India Trade Promotion Organization vs. DGIT [2015 (1) TMI 928 - DELHI HIGH COURT]. See assessee own case [2019 (2) TMI 1917 - DELHI HIGH COURT] Double benefit claimed by the assessee i.e. towards depreciation reported in respect of the assets acquired out of previous exempt income - On this too the Tribunal relied upon a binding decision of the Supreme Court in CIT vs. Rajasthan & Gujarat Charitable Foundation [2017 (12) TMI 1067 - SUPREME COURT] - Revenue appeal dismissed.
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