ADIT (E), NEW DELHI vs. FORTUNE SOCIETY FOR DEVELOPMENT AND PROMOTION OF INTERNATIONAL BUSINESS, NEW DELHI
In the result ground No. 2
ITA 2698/DEL/2012[2007-08]Status: DisposedITAT Delhi18 Sept 2017AY 2007-08
Bench: Shri I.C.Sudhir & Shri Prashant Maharishiadit(E), Vs. Fortune Society For Tc-Ii, New Delhi Development & Promotion Of International Business, G-4, Community Centre, Naraina Vihar, New Delhi Pan:Aaatf0849L (Appellant) (Respondent)
For Appellant: Shri Anshu Prakash, Sr. DRFor Respondent: Shri Satish Khosla, Adv
Section 11Section 11(1)Section 12Section 143Section 2
43D which includes depreciation u/s 32, assessee is entitled is the case pressed before us by the Senior counsel appearing for the assessee. We have no doubt in our mind that business income of charitable trust also has to be computed in the same manner as provided u/s 29 of the Income Tax Act.
However, the issue that requires consideration