TMI Blog2015 (3) TMI 1242X X X X Extracts X X X X X X X X Extracts X X X X ..... oes not amount to double deduction - Decided in favour of assessee. - I.T.A. No. 5312/Mum/2012 - - - Dated:- 12-3-2015 - N. K. Billaiya (Accountant Member) And D. Manmohan (Vice President) For the Assessee : Surendra Nijsure For the Department : S. J. Singh ORDER D. Manmohan (Vice President) This appeal by the Revenue is directed against the order passed by learned CIT(A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lls under chapter 'Profit and gains from business and profession' of the Income Tax Act, 1961 would be available to a charitable Trust whose income is otherwise not assessable under the above head? 3. whether, on the facts and in the circumstances of the case and in law, the value of the asset, the cost of which has already been allowed as deduction on account of application of inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arefully considered the facts of the case, submission of the appellant and assessment order. I find that the appellant has taken up the matter for A.Y.2003-04 in writ before the Hon'ble Bombay High Court who has allowed the writ not only on issue of notice u/s.148 for reopening the assessment, but also on the issue of allowing depreciation for computing application of income and confirmed the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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