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2019 (1) TMI 1451 - ITAT KOLKATA
Depreciation to assessee trust - double deduction - revenue contented as had rightly disallowed assessee’s depreciation since it had already claimed corresponding cost of acquisition for the purpose of section 11 exemption provided in the Act - Held that:- We find no merit in Revenue’s as Hon’ble Apex Court in the case of CIT vs Rajasthan and Gujarati Charitable Foundation [2017 (12) TMI 1067 - SUPREME COURT] has settled the very same issue in assessee’s favour. Their Lordships have already made it clear that section 11(6) brought in Act vide Finance Act, 2014 which applies w.e.f AY 2015-16 only than having any retrospective operation. We make it clear that we are in AY 2008-09. We thus confirm the CIT(A) findings accepting assessee’s depreciation claim.