Case Law Details
Case Name : The Dy. Director of Income-tax Vs. Adi Sankara Trust (ITAT Cochin)
Related Assessment Year : 2005- 06
Courts :
All ITAT ITAT Cochin
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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.
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Required queries about Interest & Depreciation allowable together in case of Society