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TMI Blog2013 (12) TMI 311X X X X Extracts X X X X X X X X Extracts X X X X ..... Kumar Lahoti J.- These appeals are preferred by the Revenue, in which the Revenue has framed identical substantial question of law, for admission of the appeals and hearing on the aforesaid question by this court. As all these appeals involve the same question and have been taken into consideration to be decided by this common order, we are referring the facts from I. T. A. No. 14 of 2011. In the memo of appeal, the Revenue has shown the following substantial question of law on which the prayer of the Revenue is for admission of the appeal and for its hearing on the merits. "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in upholding the deletion of the addition of Rs. 31,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reported in [2007] 292 ITR 22/ 27 (Delhi) wherein it has been held that the deduction was rightly claimed, and wrongly disallowed by the Assessing Officer which was allowed by the Commissioner of Income-tax (Appeals). The Department preferred an appeal before the Income-tax Appellate Tribunal, Indore, and the Tribunal considered the issue and dismissed the appeal in the light of the aforesaid judgments of various High Courts, This order is under challenge in these appeals. To appreciate the contention of the appellant, it would be appropriate if the judgment of the High Court of Madhya Pradesh in the case of CIT v. Raipur Pallottine Society [1989] 180 ITR 579 (MP) ; [1990] 50 Taxman 233 (MP) is taken into consideration the Division Ben ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aka High Court in CIT v. Society of the Sisters of St. Anne [1984] 146 ITR 28 (Karn) (at page 31) : 'The depreciation is nothing but decrease in value of property through wear, deterioration or obsolescence and allowance is made for this purpose in book-keeping, accountancy, etc. In Spicer and Pegler's Bookkeeping and Accounts, 17th edn., pages 44, 45 and 46, it has been noted as follows : "Depreciation is the exhaustion of the effective life of a fixed asset owing to 'use' or obsolescence. It may be computed as that part of the cost of the asset which will not be recovered when the asset is finally put out of use. The object of providing for depreciation is to spread the expenditure, incurred in acquiring the asset, over i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T v. Society of the Sisters of St. Anne [1984] 146 ITR 28 (Karn), if depreciation is not allowed as a necessary deduction for computing the income of a charitable institution, then there would be no way to preserve the corpus of the trust for deriving income. We respectfully agree with that decision. For all these reasons, our answer to the question referred by the Tribunal is in the affirmative and against the assessee. In the circumstances of the case, parties shall bear their own costs of this reference." The similar view was taken by the Delhi High Court in DIT v. Vishwa Jagriti Mission I. T. A. No. 140 of 2012-since reported in [2013] 1 ITR-OL 444 (Delhi) and the Division Bench of the Delhi High Court considering the similar contro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ruled that, unless general principles of taxation, double deduction in regard to the same business outgoing, is not intended unless clearly expressed. The present case is not one of this type, as rightly distinguished by the Commissioner of Income-tax (Appeals)." The matter was also considered by the Bombay High Court in the case of CIT v. Institute of Banking [2003] 264 ITR 110 (Bom) wherein the Division Bench headed by the hon'ble justice S. H. Kapadia, as he then was, considering the question held thus (page 114) : "Question No. 2 herein in identical to the question which was raised before the Bombay High Court in the case of Director of Income-tax (Exemption) v. Framjee Cawasjee Institute [1993] 109 CTR (Bom) 463. In t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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