WORKING WOMEN'S FORUM INDIA,CHENNAI vs. DCIT, CHENNAI

the Order of the Commissioner of Income Tax (Appeals)-17, Chennai, in dated 29.03.2017 for the AY 2010-11.

Mr. N.Madhavan, ACIT, represented on behalf of the Revenue and Mr. S.Sridhar, Adv., represented on behalf of the assessee. :- 2 -:

It was submitted by the Ld.AR that the only issue in the assessee’s appeal was against the action of the Ld.CIT(A) in disallowing the depreciation in the case of the assessee who is entitled to the exemption u/s.11 of the Act holding that there was a double deduction. It was a submission that the issue is squarely covered by the decision of the Hon’ble Supreme Court in the case of Rajasthan Gujarati Charitable Foundation, Poona, in Civil Appeal No.7186 of 2014 dated 13.12.2017.

In reply, the Ld.DR vehemently supported the order of the AO and the Ld.CIT(A)

We have considered the rival submissions. As we have noticed that the issue in regard to the depreciation in the case of assessee entitled to the exemption u/s.11 is squarely covered by the decision of the Hon’ble Supreme Court in the case of Rajasthan Gujarati Charitable Foundation, Poona, in Civil Appeal No.7186 of 2014 dated 13.12.2017. Respectfully following the decision of the Hon’ble Supreme Court, the AO is directed to grant the assessee, the claim of depreciation.

In the result, the appeal filed by the assessee is allowed.