2013 (4) TMI 798

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..... uld be adopted. It is in the light of the above legal pronouncement that the Tribunal has held that the assessee can claim depreciation even though capital expenditure have been treated as application of funds for charitable purposes. - I.T.A. No. 91/Mds/2013 - - - Dated:- 22-4-2013 - Dr. O.K. NARAYANAN, VICE-PRESIDENT AND SHRI S.S.GODARA , JUDICIAL MEMBER For the Petitioner : Shri Guru .....

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..... at one time and as revenue expenditure at another time. This results in wrong calculation of profit/income and hence 85% of application of income cannot be calculated by following this method. 3. This issue was considered by the Income-tax Appellate Tribunal, B Bench, Chennai in assessee s own case for the assessment years 2006-07 and 2008-09 through its order dated 14.12.2012 delivered i .....

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..... gal pronouncement that the Tribunal has held that the assessee can claim depreciation even though capital expenditure have been treated as application of funds for charitable purposes. 5. In view of the above, we confirm the order of the Commissioner of Income-tax(Appeals). 6. In result, this appeal filed by the Revenue is dismissed. Order pronounced in the open court at the time of heari .....

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