DCIT (EXEMPTIONS), , CHENNAI vs. SRI VEKKALIAMMAN EDUCATIONAL & CHARITABLE TRUST, CHENNAI
In the result, appeal of the Revenue stands dismissed
ITA 2722/CHNY/2017[2011-12]Status: DisposedITAT Chennai18 Jun 2018AY 2011-12
Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. No. 2722/Chny/2017 "नधा"रण वष" /Assessment Year : 2011-2012. Deputy Commissioner Of M/S. Sri Vekkaliamman Educational Income Tax, Vs. & Charitable Trust, (Exemptions) No.10, East Mada Church Street, Chennai Circle, Royapuram, Chennai 600 034. Chennai 600 013. [Pan Aafts 7863Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)
For Respondent: Shri. G. Seetharaman, C.A
Section 11Section 11(1)(a)Section 12ASection 32
gains of business shall be computed in accordance with section 30 to section 43C. That, section 32(1) of the Act provides for depreciation in respect of building, plant and machinery owned by the assessee and used for business purposes. It further provides for deduction subject to section 34. In that matter also, a similar argument, as in the present