Depreciation on assets allowable to trust despite treatment of same as Income Application : SC

CIT Vs Rajasthan and Gujarat Charitable Foundation Poona (Supreme Court of India)

These are the petitions and appeals filed by the Income Tax Department against the orders passed by various High Courts granting benefit of depreciation on the assets acquired by the respondents-assessees. It is a matter of record that all the assessees are charitable institutions registered under Section 12A of the Please become a Premium member. If you are already a Premium member, login here to access the full content.