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2021 (4) TMI 886 - HC - Income TaxDepreciation claim to assessee trust - Assessee claiming exemption under Section 11 - allowable on the fixed asset (the cost of the capital asset) acquired for charitable purposes as if so allowed it would amount to double deduction, which cannot be the intention of the legislature? - HELD THAT:- When the appeals are taken up for hearing, Mr.J.Narayanasamy, learned senior standing counsel appearing for the appellant – Revenue fairly submitted the substantial questions of law which has been framed in these appeals, have 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]. Following the judgment of the Hon'ble Supreme Court reported in RAJASTHAN AND GUJARATI CHARITABLE FOUNDATION POONA [2017 (12) TMI 1067 - SUPREME COURT] and NATIONAL COLLEGE COUNCIL, TEPPAKULAM, TIRUCHIRAPALLI. [2021 (4) TMI 469 - MADRAS HIGH COURT] and M/S. NATIONAL COLLEGE COUNCIL [2019 (8) TMI 1671 - MADRAS HIGH COURT] Substantial question of law is answered against the revenue and the appeals are dismissed.
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