2021 (6) TMI 1003

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... E COURT] . - Decided against revenue.
HON'BLE MR. JUSTICE M. DURAISWAMY AND HON'BLE MRS.JUSTICE R. HEMALATHA For Appellant : Mr. J. Narayanaswamy Senior Standing Counsel For Respondent : Mr. R. Venkatnarayanan JUDGMENT (Judgment was delivered by M. DURAISWAMY, J.) Challenging the order passed in I.T.A.No.1790/Mds/2012 in respect of the Assessment Year 2009-2010 on the file of the Income Tax Appellate Tribunal, Chennai,"A" Bench (for brevity, the Tribunal), the Revenue has filed the above appeal. 2. The respondent-assessee is a Charitable Trust registered under section 12A of the Income Tax Act. The assessee filed its return of income for the Assessment Year 2009-2010 on 06.11.2009. The Assessing Officer issued a n .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... objects? (ii) Whether on the facts and in the circumstances of the case, the Tribunal was right In holding ¢hat the assessee is entitled to claim depreciation on the assets jn the form of application of income, even though cost of purchase of asset was treated as application of income under Section 11? (iii) Whether in law and in the facts and circumstances of thé case, the Tribunal is right in holding that allowing the depreciation claim of the assessee would not result in double deduction, though the entire cost of the depreciable assets has already been allowed as application of income towards object of the trust?" 4. When the appeal is taken up for hearing, Mr. J. Narayanasamy, learned Senior Standing Counsel appearing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e Hon'ble Division Bench of this Court made in T.C.A.Nos.680 & 681 of 2011, the substantial question of law is answered against the Revenue and the appeals are dismissed. No costs. 5. The learned Senior Standing Counsel appearing for the appellant submitted that following the Judgment dated 26.02.2021 made in T.C.A.Nos.343 to 345 & 347 of 2014 [cited supra], this Bench already decided the questions of law against the Revenue by its Judgement dated 08.04.2021 made in T.C.A.No.407 of 2014 [The Commissioner of Income Tax,Coimbatore. v. M/s. Kovai Medical Centre and Educational Trust, Coimbatore] and dismissed the appeal. 6. In view of the fair submission made by the learned Senior Standing Counsel, following the Judgment dated 26.02.2021 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X