Case Law Details
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 Year: 2005-06
The Dy. Director of Income-tax (Exemption) Vs. Adi Sankara Trust, Sankara Nagar, Mattoor
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Required queries about Interest & Depreciation allowable together in case of Society