Depreciation of asset of the institution under section 12A to be deducted to arrive at income available for charitable purposes
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
On the facts and in the circumstances of the case, the Ld. CIT(A) erred in allowing depreciation on certain fixed assets, particularly when full cost of such assets stood allowed in earlier years as application of income and further allowance by way of depreciation would now result in allowing double deduction. Reliance is placed on the decision of Cochin Bench of ITAT in the case of the DDIT(E) Vs. Lissie Medical Institutions (2010-TIOL-644-ITAT-Coachin)
Citation :
Income-tax Officer (E), Trust Ward-III, Delhi. (Appellant) Vs.Council of Scientific & Industrial Research, Anusandhan Bhawan,Rafi Marg, New Delhi. PAN: AAATC2716R(Respondent)
You have reached your daily limit of 2 Free Judgements
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited Judgements Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
Already a PRO member? Login here for an ad-free experience. 011-411-70713
CS Bijoy
Published in Income Tax
Views : 2002
Comments
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Browse by Category
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
Article Assistant
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
