ITO- E, JAIPUR vs. SHREE MITRA GYAN SHIKSHA SAMITI, JAIPUR

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ITA 67/JPR/2017Status: DisposedITAT Jaipur03 March 2017AY 2010-114 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that depreciation is admissible to a charitable trust under Section 32, even if capital expenditure was already allowed under Section 11. The amendment to Section 11(6) was considered prospective.

What were the facts?

The Revenue appealed against the CIT(A)'s order allowing depreciation on fixed assets for a charitable trust. The Revenue argued that depreciation was already allowed as an application of income under Section 11, leading to double allowance.

What were the issues?

Whether depreciation on capital assets is allowable for a charitable trust when capital expenditure has already been claimed as application of income. Whether the amendment to Section 11(6) denying depreciation is retrospective or prospective.

Which sections of the Income-tax Act were involved?

Section 11,Section 32

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(1)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, JAIPUR BENCHES, JAIPUR

Before: SHRI KUL BHARAT, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ ITA No.67/JP/17

For Appellant: CA jktLo dh vksj ls@
Hearing: 03.03.2017

आदेश की प्रतिलिपि अग्रेषित@ब्वचल वf जीम वतकमत वितूंतकमक जवरू

1.

vihykFkhZ@The Appellant- The ITO (E), Wad-1, Jaipur 2. izR;FkhZ@ The Respondent- M/s Shree Mitra Gyan Shiksha Samiti, Jaipur 3. vk;dj vk;qDr@ CIT (E), Jaipur vk;dj vk;qDr¼vihy½@The CIT(A) Aligarh 4. 5. विभागीय प्रतिनिधि] आयकर अपीलीय अधिकरण] जयपुर@क्त्ए प्ज्Aज्ए Jंपचनत xkMZ QkbZy@ Guard File (ITA No. 67/JP/2017) 6.

vkns'kkuqlkj@ By order,

सहायक पंजीकार@ Aेेपेजंदज. त्महपेजतंत.

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