Deduction of Depreciation as well of Capital Expenditure U/s. 11 In Case of Trusts not amounts to Double Deduction

BRIEF FACTS OF THE CASE AND QUESTION OF LAW Brief Facts: This is an appeal filed by assessee against challenging the order dt.8.5.2011 of CIT (A)-I, Mumbai, for the assessment year 2008-2009.The grounds of assessee were as follows: (i) the Learned Commissioner of Income Tax (Appeals) erred in directing the Assessing Officer to allow depreciation on fixed assets without appreciating the fact that the capital expenditure incurred on acquiring the assets has already been claimed as application of income u/s. 11 of the I. T.Act 1961 in the current / past years. (ii) The Learned Commissioner of In...