Trust can claim double benefit of depreciation and application of Income U/s. 11 on Fixed Assets

ITAT BANGALORE BENCH ‘C’ Assistant Commissioner of Income-tax Versus Shri Adichunchanagiri Shikshana Trust IT Appeal Nos 774 & 775 (Bang.) of 2011 [ASSESSMENT YEARS 2007-08 & 2008-09] AUGUST  3, 2012 ORDER 1. These are appeals preferred by the Department against the separate orders of the Commissioner of Income-tax (Appeals), Mysore, both dated June 29, 2011. The relevant assessment years are 2007-08 and 2008-09. 2. The grounds raised in these appeals are identical. They read as follows : (i) The learned Commissioner of Income-tax (Appeals) has erred in a...