HC allows Depreciation as necessary deduction in computing income of charitable trust

HIGH COURT OF MADHYA PRADESH Commissioner of Income-tax versus Gujrati Samaj (Regd.) IT Appeal Nos. 21, 22 & 23 of 2011 JULY  8, 2011 JUDGMENT Shantanu Kemkar, J. – This order shall govern disposal of I. T. A. Nos. 22 and 23 of 2011 as common questions of law are involved in all these appeals and they arise out of the common order. 2. All these appeals under section 260A of the Income-tax Act, 1961 (for short, “the Act”), are against the order dated January 31, 2011 passed by the Income-tax Appellate Tribunal, Indore Bench (for short, “the Tribunal...