2018 (7) TMI 885 - SCH - Income Tax

Depreciation of assets acquired by assessee trust - the capital expenditure is treated as application of income for charitable purposes - Held that - In view of the decision in Commissioner of Income Tax- III, Pune v. Rajasthan and Gujarati Charitable Foundation Poona (2017 (12) TMI 1067 - SUPREME COURT) these Special Leave Petitions are also dismissed.

Summary

The Supreme Court of India in 2018 (7) TMI 885 - SC Order dismissed Special Leave Petitions citing a previous decision in Commissioner of Income Tax- III, Pune v. Rajasthan and Gujarati Charitable Foundation Poona (Civil Appeal No.7186/2014). The delay was condoned and pending application was disposed of.