Trust cannot take dual benefit in the form of application of income & depreciation

HIGH COURT OF KERALA Lissie Medical Institutions V/s. Commissioner of Income-tax, Kochi IT Appeal No. 42 of 2011 February 17, 2012 JUDGMENT C.N. Ramachandran Nair, J The appellant is a charitable institution registered under Section 12A of the Income Tax Act (hereinafter referred to as the Act for short), and is running a hospital. In the course of running the hospital, the appellant acquires medical equipments such as x-ray units, scanning machines etc., which were purchased with the surplus funds available. The entire expenditure incurred for acquisition of capital assets is...