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2021 (7) TMI 65 - HC - Income TaxAssessment of trust - depreciation on assets as “application of income towards charitable purpose” - AO disallowed the claim of the assessee on the ground that it amounts to giving deductions/exemptions twice - HELD THAT:- As decided in M/S. NATIONAL COLLEGE COUNCIL, TEPPAKULAM, TIRUCHIRAPALLI. [2021 (4) TMI 469 - MADRAS HIGH COURT] substantial questions of law, which have been framed in these appeals, have been answered against the Revenue as relying on RAJASTHAN AND GUJARATI CHARITABLE FOUNDATION POONA [2017 (12) TMI 1067 - SUPREME COURT]. - Decided against revenue.
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