Tag Archives: Section 11(6)

Proviso for denying depreciation on asset already claimed as application is prospective

By | March 13, 2016

Assessment year : 2009-10 Issue Whether the depreciation is  allowable as deduction in computing the total income of a charitable trust under Section 11 of the Act, as the amount spent on the capital asset is already allowed as application of income in the year of such acquisition. View of Revenue :- Claim of deduction… Read More »