Trust treated as AOP – Depreciation cannot be disallowed

Annaimullai Educational and Social Service Trust Vs ITO (ITAT Chennai)

Admittedly, the assessee is a trust but it is not registered. It got registered u/s.12AA of the Act by CIT (Exemptions), Chennai only on 11.07.2018. The registration is effective from assessment year 2018-19. Hence in the relevant assessment year 2017-18, the assessee is not a registered trust u/s.12AA of the Act. Admittedly, the assessee is running an educational institute and its gross receipt is  to the tune of Rs.2,11,38,336/-. The AO while framing a

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