TILLA BABA FARID RELIGIOUS & CHARITABLE SOCIETY,FARIDKOT vs. THE INCOME TAX OFFICER(EXEMPTIONS), AMRITSAR.
In the result, the assessee’s appeal is allowed for statistical purposes, and the Revenue’s appeal is dismissed
ITA 621/ASR/2015[2012-13]Status: DisposedITAT Amritsar20 Apr 2018AY 2012-13
Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 621/(Asr)/2015 Assessment Year: 2012-13
For Appellant: Sh. S. K. Kataria (Adv.)For Respondent: Sh. Rajeev Gubgotra (D.R.)
Section 10Section 11Section 12ASection 12A(2)Section 143(3)Section 271(1)(c)Section 32Section 32(1)
depreciation - which though would have to suitably quantified and also booked, but also for set off of capital expenditure as application of income, both in terms of settled law, which shall reduce the taxable income. In fact, even excluding section 11, the claim would stand, as it is only income thereafter that could be subject to application for charitable
