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2023 (2) TMI 339 - AT - Income TaxExemption u/s 11 - Scope of newly inserted section 11(6) - Depreciation on assets - Double benefit - whether insertion of section 11(6) brought into the Act with effective from 01.04.2015 is ' prospective in nature and therefore shall not apply on the case of the present assessment year i.e. A.Y. 2014-15 ? - HELD THAT:- AO could not assert anything with regard to fact that revenue’s appeal for assessment year 2010-11 and 2011-12 stand dismissed [2018 (6) TMI 1827 - ITAT DELHI] and for assessment year 2012-13 [2021 (5) TMI 358 - ITAT DELHI] Hon’ble Supreme Court of India in CIT vs. Rajasthan and Gujarati Charitable Foundation, Pune [2017 (12) TMI 1067 - SUPREME COURT] has settled the issue and specifically observing and taking into cognizance the fact that amendment brought in Section 11(6) of the Act vide Finance Act, no. 2 / 2014 is prospective in nature, from assessment year 2015-1,6 while the present year under consideration is A.Y. 2014-15. Therefore ground decided against the Revenue.
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