Dy. DIT, Ernakulam Vs Adi Sankara Trust ( ITAT Cochin)

When a charitable Trust  has already claimed deduction for acquisition of capital assets as application of money, the further claim of depreciation on the same assets not allowable Income Tax – Sections 11, 12A, 32(1) – When assessee, a charitable body, has already claimed deduction for acquisition of capital assets as application of money, the further claim of depreciation on the same assets would amount to double benefits and can not be allowed. INCOME TAX APPELLATE TRIBUNAL , COCHIN I.T.A. No. 96/Coch/2009 & C.O. 18/Coch/09 (in I.T.A.No. 96/Coch/2009) – Assessment Yea...