TMI Blog2011 (11) TMI 690X X X X Extracts X X X X X X X X Extracts X X X X ..... ar Yadav (Judicial Member) This appeal by the Revenue is directed against the order of CIT(A)-III Pune dated 23-12-2009 for A.Y. 2006-07 allowing the claim of depreciation on immovable property to the extent of ₹ 1,08,86,330/- over and above the capital expenditure on the concerned asset claimed by the assessee. 2. The assessee is a registered public charitable trust running a hospita ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tical issue arose in the case of appellant in A.Y 2004-05 and 2005-06 wherein the learned CIT(A) negative the action of the A.O in disallowing the depreciation on buildings after observing that the decision of Bombay High Court in the case of CIT Vs. Institute of Banking Personnel Section 264 ITR 110 is squarely applicable wherein it was held that depreciation is still allowable on the assets, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een held that depreciation is allowable on the assets, the cost of which was fully allowed as application of income in the past years. The CIT(A) has also followed the ratio laid down by the Hon ble Bombay High Court in the case of Institute of Banking (supra). In the circumstances therefore, we do not find any infirmity in the order of the CIT(A). The same is upheld. 5. In the result, the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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