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TMI Blog2021 (4) TMI 921X X X X Extracts X X X X X X X X Extracts X X X X ..... RUCHIRAPALLI. [ 2021 (4) TMI 469 - MADRAS HIGH COURT] and M/S. NATIONAL COLLEGE COUNCIL [ 2019 (8) TMI 1671 - MADRAS HIGH COURT] Substantial question of law is answered against the revenue and the appeals are dismissed. - T.C.A.No. 231 of 2014 - - - Dated:- 31-3-2021 - Hon'ble Mr. Justice M.Duraiswamy And Hon'ble Mrs.Justice T.V.Thamilselvi For the Appellant : Mr.J. Narayanasw ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eciation on the assets, in the form of application of income, even though cost of purchase of asset was treated as application of income under section 11 of the Income Tax Act? (iii) Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in holding that allowing the depreciation claim of the assessee would not result in double deduction, though ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w in holding that depreciation claimed by the assessee, who is claiming exemption under Section 11 of the Act is allowable on the fixed asset (the cost of the capital asset) acquired for charitable purposes as if so allowed it would amount to double deduction, which cannot be the intention of the legislature? 3.When the appeals are taken up for hearing, Mr.J.Narayanasamy, learned senior standi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... College Council, P.B.No.369, Chatram Bus Stand, Teppakulam, Tiruchirapalli 620 002] dismissed the appeals and answered the substantial questions of law against the Revenue. 4.Following the judgment of the Hon'ble Supreme Court reported in [2018] 402 ITR 441 (SC) and the judgments of the Division Bench of this Court made in T.C.A.Nos.343 to 345 347 of 2014 and T.C.A.Nos.680 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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