Depreciation allowability to a trust u/s11

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bharat pathak (Querist)
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02 April 2012 normally all the additions to fixed assets of a charitable trust are taken as income applied for the object of the trust U/S 11.
can a trust can also claim deduction as depreciation at the rates allowed under IT act ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 April 2012 In CIT Vs Society of Sister of St. Anne 146 ITR 28,depreciation in addition to capital expenditure is allowed to be claimed as income applied to charitable/religious purposes.
But in view of the decision of the Supreme Court in Escorts Ltd. V Union of India reported in 199 ITR 43, double deduction in respect of the same outgoing ,i.e. depreciation and capital expenditure, cannot be allowed.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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07 April 2012 I agree with the expert

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