TMI Blog2013 (5) TMI 1049X X X X Extracts X X X X X X X X Extracts X X X X ..... PER B.C. MEENA, ACCOUNTANT MEMBER: Both these appeals are filed by the revenue having a common ground of appeal wherein the CIT (Appeals) has directed to allow the depreciation. 2. The assessee is a registered society u/s 12A of the Income-tax Act, 1961. The assessee is running two schools in the name of Delhi Public School at Vadodara. The assessee has claimed depreciation on the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rust (198 1) 127 ITR 378 and by the Madras High Court in Commissioner Of Income-Tax vs Rao Bahadur Calavala Cunnan Chetty Charities (1982) 135 ITR 485. The Madhya Pradesh High Court in CIT vs. Raipur Pallottine Society (supra) has held, following the judgment of the Karnataka High court cited above, that in computing the income of a charitable institution/trust, depreciation of assets owned by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r its income should be computed on commercial principles in order to determine the amount of income available for application to charitable purposes. It was a case where the assessee was carrying on business and the statutory computation provisions of Chapter IV-D of the Act were applicable. In the present case, we are not concerned with the applicability of these provisions. We are concerned only ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s out going is not intended unless clearly expressed. The present case is not one of this type, as rightly distinguished by the CIT(Appeals). 14. Having regard to the consensus of judicial opinion on the precise question that has arisen in the present appeal, we are not inclined to admit the appeal and frame any substantial question of law. There does not appear to be any contrary view plausibl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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