TMI Blog2014 (8) TMI 948X X X X Extracts X X X X X X X X Extracts X X X X ..... nst Revenue. - ITA No. 287/CHD/2014 - - - Dated:- 19-8-2014 - SHRI T.R. SOOD AND MS. SUSHMA CHOWLA, JJ. For the Appellant : Shri Amarveer Singh For the Respondent : Shri Sudhi r Sehgal ORDER T. R. Sood (Accountant Member).- The appeal filed by the Revenue is directed against the order dated January 24, 2014, of the Commissioner of Income-tax (Appeals), Panchkula. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estored. 3. After hearing both parties we find that the assessee has claimed depreciation amounting to ₹ 53,61,543 but the same was disallowed because the assessee had also claimed the cost of acquisition of assets towards application of money. However, the learned Commissioner of Income-tax (Appeals) allowed the claim by following the decision of the hon'ble Punjab and Haryana High C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reduced from the income for determining the percentage of funds which had to be applied for the purposes of the trust. There was no double deduction claimed by the assessee. It could not be held that double benefit was given in allowing the claim for depreciation for computing income for purposes of section 11. 7. Following the above order we decide this issue against the Revenue. 8. In the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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