TMI Blog2014 (2) TMI 1224X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the Hon’ble Punjab & Haryana High Court in the case of CIT Vs. Tiny Tots Education Society reported as [ 2010 (7) TMI 377 - Punjab and Haryana High Court ] and CIT Vs. Market Committee, Pipli reported as [2010 (7) TMI 374 - Punjab and Haryana High Court ], wherein it has been held that claim of depreciation do not result in double deduction. The CIT(Appeals) applied the ratio laid down in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 31-03-2010, the assessee-trust has claimed depreciation to the tune of `25,84,318/-. The Assessing Officer vide order dated 31-12-2012, dis-allowed the depreciation. The Assessing Officer followed the judgment of the Hon ble Kerala High Court in the case of M/s. Lissie Medical Institution Vs. CIT in ITA No.42/2011 decided on 17-02-2012, wherein it has been held that depreciation claimed by the tru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT Vs. Vegetable Products Ltd., reported as 88 ITR 192 (SC) and decided the issue in favour of the assessee. 4. We find that in the present appeal, issue raised is squarely covered by the earlier order of the Tribunal in the case of CMS Educational Charitable Trust (supra). In view of the above, the appeal of the Revenue is dismissed. Order pronounced in the open court at the time of hear ..... X X X X Extracts X X X X X X X X Extracts X X X X
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