2015 (7) TMI 803

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..... the trust inspite of cost of which has been fully allowed as application of income in current or past years by relying upon the decision of the Hon'ble Bombay High Court in the case of CIT vs Institute of Banking (2003 (7) TMI 52 - BOMBAY High Court) and ignoring the ratio of Hon'ble Supreme Court in the case of Escorts Ltd vs Union of India (1992 (10) TMI 1 - SUPREME Court ) wherein Hon'ble Supr .....

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..... Appeal deserves admission on the following substantial questions of law : Whether on the facts and in the circumstances of the case and in law, the Hon'ble Tribunal was right in upholding the order of the Ld.CIT (A) that depreciation is allowable on the assets of the trust inspite of cost of which has been fully allowed as application of income in current or past years by relying upon t .....

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