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TMI Blog2015 (5) TMI 1017X X X X Extracts X X X X X X X X Extracts X X X X ..... his appeal of the Revenue is directed against the order of the Commissioner of Income Tax (Appeals)-I, Coimbatore, dated 18.07.2014. 2. No one appeared for the assessee even though the appeal was adjourned to 21.04.2015 at the request of the assessee. Therefore, we heard the Ld. Departmental Representative and proceed to dispose of the appeal on merit. 3. Shri N. Madhavan, the Ld. D.R., submitte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n made by the Ld. D.R. and perused the material available on record. It is not in dispute that the assessee invested in the capital asset and claimed the same as application of income under Section 11 of the Act. Now the question arises for consideration is when the claim of investment in the capital asset was allowed as application of income, whether the very same asset was eligible for depreciat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sociation in I.T.A. No.1773/Mds/2013 dated 22.02.2013, in M/s CMS Educational & Charitable Trust in I.T.A. No.2261, 2262 & 2263 dated 17.04.2013 and in M/s Kongunadu Arts & Science College in I.T.A. No.1791/Mds/2012. In view of the consistent view taken by the Chennai Bench in allowing depreciation, this Tribunal does not find any infirmity in the order of the CIT(Appeals). Accordingly, the same i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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