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2022 (4) TMI 154 - ITAT KOLKATAExemption u/s 11 - Whether depreciation to be excluded from the gross receipts for computing accumulation of 15%? - HELD THAT:- Considering the facts on record and the decision in the case of Rajasthan & Gujarati Charitable Foundation Poona [2017 (12) TMI 1067 - SUPREME COURT], we do not find any justification in the suo motto direction given by the Ld. CIT(A) to the Ld. AO to exclude the amount of depreciation from the gross receipts for computing accumulation of 15%, when the claim of depreciation has already been held to be allowed by him. Accordingly, appeal of the assessee is allowed.
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