Depreciation to be considered in computing 85% threshold limit of application of trust’s income

IN THE ITAT JAIPUR BENCH ‘A’ Income-tax Officer, Ward-Bundi v/s. Krishi Upaj Mandi Samiti IT APPEAL NOS. 424 & 425 (JP) OF 2011 [ASSESSMENT YEARS 2004-05 & 2005-06] JANUARY 25, 2012 ORDER N.L. Kalra, Accountant Member The Revenue has filed the appeals against two different orders of the ld. CIT(A), Kota dated 28-02-2011 for the assessment years 2004-05 and 2005-06. 2.1 The ground of appeal raised by the Revenue in both the appeals is as under:- ”On the facts and in the circumstances of the case, the ld. CIT(A) has erred in directing to delete deprecia...