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TMI Blog2015 (10) TMI 1451X X X X Extracts X X X X X X X X Extracts X X X X ..... e then as per well established law, the same is binding upon the authorities working under the jurisdiction of the High Court. The issue raised by the Revenue is squarely covered by the aforementioned decision of the hon'ble jurisdictional High Court in the case of DIT v. Vishwa Jagriti Mission (supra) therefore, we do not find any error in the relief given by the learned Commissioner of Income-tax (Appeals) to the assessee in respect of both the impugned assessment years. Accordingly, we decline to interfere and the Departmental appeals being devoid of merits are dismissed. - Decided in favour of assessee. - ITA Nos. 1979 & 2565 /Del /2013 - - - Dated:- 13-2-2015 - SHRI I.P. BANSAL AND SHRI N.K. SAINI, JJ. For the Appellant : Sh. J ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peals) has erred in ignoring the fact that in a case where capital expenditure has been treated to have been applied for the object of the trust, allowance of deduction on account of depreciation will amount to double deduction. (ii) On the facts and in the circumstances of the case and in law, the learned Commissioner of Income-tax (Appeals) has erred in ignoring that as per provisions of section 32 of the Income-tax Act, 1961 depreciation is to be allowed against the profits and gains of business or profession whereas the assessee is a charitable institution registered under section 12AA of the Act and is not computing/offering its income under the head profits and gains of business or profession. (iii) On the facts and in the circu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l.). In the said case, the assessee was registered under section 12AA of the Income-tax Act, 1961 (for short the Act ). Thus, it was entitled to exemptions of its income under section 11 of the Act. The question raised before the hon'ble High Court was that whether the income of the assessee should be computed on commercial principles and in doing so, whether depreciation on fixed assets utilised for the charitable purposes should be allowed. It was observed by the hon'ble Delhi High Court that there seems to be a consensus of judicial thinking, as could be seen from the authorities relied upon by the learned Commissioner of Income-tax (Appeals) as well as by the Tribunal. It was further observed that in computing the income of a c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as decided by the learned Commissioner of Income-tax (Appeals) on the basis of decision of the hon'ble jurisdictional High Court, we proceed to decide the present appeals ex parte qua the assessee. 6. The learned Departmental representative relying upon the grounds of appeal submitted that the learned Commissioner of Income-tax (Appeals) has committed an error in granting the relief to the assessee in view of the clarification given by the Central Board of Direct Taxes during the course of hearing before the hon'ble High Court of Kerala in the case of Lissie Medical Institutions v. CIT [2012] 348 ITR 344 (Ker). 7. After hearing the learned Departmental representative, we do not find any force in the contentions raised by the l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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