TMI Blog2009 (6) TMI 983X X X X Extracts X X X X X X X X Extracts X X X X ..... revenue for assessment year 2006-07 is directed against order of CIT(A) accepting assessee s contention that it was entitled to claim of depreciation of ₹ 15,21,994 in spite of it being a charitable institution under section 11 of the Income-tax Act. 2. In the present case, there is no dispute that assessee is a charitable institution and is entitled to exemption under section 11 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that assessee could not be allowed deduction of depreciation. In support of above claim, reliance was placed on the decision of Hon ble Supreme Court in the case of Escorts Ltd. v. Union of India [1993] 199 ITR 431. Accordingly, order of the. ld. CIT(A) was impugned. 3. We have given careful thought to the submissions made before us. As already noted, assessee is a charitable institution and i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the following decisions:- 1. In the case of ITO v. Trustees of Marathi Mission [1982] 1 ITD (Bom.) 539 the Hon ble Bombay Bench of ITAT has held:- Thus, the question of determination of income on the one hand and application of the same towards the objects of the trust are two different issues and the revenue, by mixing up both the concepts, has challenged the decision of the Commissioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 32 as well as under section 35(2)(iv) of the Income-tax Act. The Court held that having allowed cost of material asset used for scientific research relating to business of the assessee, it was impossible to conceive of the legislature having envisaged a double deduction in respect of the same expenditure by way of depreciation. No claim of two deductions has been made in this case. As noted ..... X X X X Extracts X X X X X X X X Extracts X X X X
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