Case Law Details
Podar Literacy & Education Trust Vs DCIT (ITAT Mumbai)
AO has disallowed the claim of depreciation as per the mandate of provisions of sec. 11(6) of the Act, which reads as under:-
(6) In this section where any income is required to be applied or accumulated or set apart for application, then, for such purposes the income shall be determined without any deduction or allowance by way of depreciation or otherwise in respect of any asset, acquisition of which has been claimed as an application of income under this section in the same or any other previous year.
There should not be any dispute that the responsibility to show that the provisions of sec. 11(6) are not applicable to it, shall lie upon the shoulders of the assessee. As rightly pointed out by Ld D.R, the assessee has not placed any material to show that the value of assets in respect of which the depreciation has been claimed was not claimed as application of income in any of the year. Hence, we are unable to interfere with the decision rendered by Ld CIT(A) on this issue.
FULL TEXT OF THE ORDER OF ITAT MUMBAI
Please become a Premium member. If you are already a Premium member, login here to access the full content.
