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2017 (12) TMI 135 - HC - Income TaxClaim for depreciation on capital assets of assessee trust - double deduction - Held that:- Claim for depreciation to assessee trust on the claim assets is allowable. See Directorate of Income Tax Vs. Vishwa Jagriti Mission [2012 (4) TMI 289 - DELHI HIGH COURT ] Also the amendment to the Section 11 was perspective. We also notice that in Commissioner of Income Tax Vs. Seth Anandram Jaipuria Education Society (2017 (3) TMI 896 - ALLAHABAD HIGH COURT) and Director of Income Tax & Anr. Vs. Al-Ameen Charitable Fund Trust (2016 (3) TMI 462 - KARNATAKA HIGH COURT) it was held that the plain language of amendment of Section 11(6) of the Income Tax Act, 1961, made through the Finance (No. 2) Act 2014, established its parliamentary intent in computing income for charitable trust, only with effect from 01.04.2015. The Karnataka High Court took note of the Legislation as well as the memorandum explaining the provisions and circulars issued by the Central Board of Direct Taxes from time to time. - No question of law.
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