9911796707
TMI Blog2014 (3) TMI 1020X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the Revenue against the order of the Commissioner of Income Tax (Appeals)-I, Coimbatore dated 21.8.2013 for the assessment year 2010-11. The only grievance of the Revenue is that Commissioner of Income Tax (Appeals) erred in allowing the claim of depreciation holding it as application of income on stated charitable objects. 2. At the time of hearing, none appeared on behalf of the assessee, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tax (Appeals), we find that the issue in appeal is squarely covered in favour of the assessee by various decisions of the co-ordinate Bench of this Tribunal and in fact Commissioner of Income Tax (Appeals) followed those decisions of the Tribunal and allowed the claim of the assessee observing as under:- "6. I have gone through the submissions made by the appellant and also the order of the Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ctfully following the orders of the ITAT, the Assessing Officer is directed to allow depreciation claimed by the trust. 7. The Hon'ble ITAT 'A Bench, Chennai in its order dated 17th April, 2013 in the case of M/s. CMS Educational and Charitable Trust, M/s B.A.Educational Trust, M/s Sakthi Foundation in ITA Nos.2261, 2262 and 2263 clearly held that "As already stated herein above, the sol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer to allow the claim of the appellant. The grounds of appeal are allowed." 5. On going through the above findings of the Commissioner of Income Tax (Appeals), we find that this issue has been decided in favour of the assessee following various decisions of the co-ordinate Bench of this Tribunal. Therefore, we do not find any infirmity in the order passed by the Commissioner o ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
