TMI Blog2014 (3) TMI 1020X X X X Extracts X X X X X X X X Extracts X X X X ..... ns of the Tribunal and allowed the claim of the assessee. 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 of Income Tax (Appeals) in allowing the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Departmental Representative. 3. Departmental Representative submits that Assessing Officer while completing the assessment denied claim of depreciation made by the assessee stating that depreciation claimed is outside the purview of section 11 of the Act and treated as not applied towards objects of the trust, since the cost of assets have already been allowed as applied for charitable purpos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irected the Assessing Officer to allow the claim of depreciation in the case of M/s.Coimbatore Welfare Association in IT Appeal No.165/11-12 dated 02.07.2012. The Hon'ble ITAT 'C' Bench recently in Appeal No.ITA No.1773 /Mds/2013 passed on 22nd February 2013 has upheld the order passed by the Commissioner of Income tax (Appeals) and allowed 'the depreciation. Further, the Hon'b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e deduction or not. We find that revenue has relied on a decision of Kerala High Court (pleaded in the grounds) and on the other hand, the appellant drew support from the decision of the Hon'ble Punjab Haryana High Court. Faced with this situation, we draw support from the case law CIT Vs Vegetable Product 88 ITR 192 (SC) held that in case of divergent judicial precedents, the one which favo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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