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TMI Blog2022 (6) TMI 268X X X X Extracts X X X X X X X X Extracts X X X X ..... e toiling masses and having arrived at such a factual conclusion held the denial of exemption under section 11 of the Act was not correct - CIT(A) has also noted as to how the substantial number of people in the country lives in rural areas and about 40% of the population is below the poverty line and the appellant-trust is to educate those daily wage earners in urban areas and industrial workers about the various aspects, which they are bound to know and held that the activity of publishing the newspaper can be covered under ''advancement of any other object of general public utility''. While testing the correctness of the order passed by the CIT(A), the Tribunal had relied upon the decision of the Cochin Bench of this Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty [ 2010 (7) TMI 377 - PUNJAB AND HARYANA HIGH COURT] wherein, it has been held that depreciation allowance on fixed assets of charitable trusts are not double deduction as claimed by the department. Depreciation on fixed assets - As the decisions of this Court in Director of Income Tax (Exemptions) -vs- Medical Trust of the Seventh Day Adventists [ 2017 (8) TMI 931 - MADRAS HIGH COURT] is fully in favour of the appellant-assessee and the question has been answered in favour of the appellant-assessee. This issue also can be raised before the Tribunal. Thus in the light of what we have observed above, we are of the view that the Tribunal should reconsider the case of the appellant-assessee by taking note of all the facts and legal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is not a Charitable activity in nature. 3. Whether on the facts and circumstances of the case the Hon'ble Income Tax Appellate Tribunal was right in law in omitting to allow Depreciation on fixed assets as per the Judgments of the Punjab and Harayana High Court in the case of CIT Vs. Market Committee pipli reported in (330) ITR 16 (P H) and CIT Vs. Tiny Tots Education Society reported in (330) ITR 21 (P H). 3. We have heard Mr. J.Balachander, Learned counsel for the appellant-assessee and Mr. J.Narayanaswamy, Learned Senior Standing Counsel appearing for the respondent-Revenue. 4. The assessee is a charitable trust constituted by a deed of declaration of trust dated 28.02.1986 and registered under Section 12-A of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... factual conclusion held the denial of exemption under section 11 of the Act was not correct. The CIT(A) has also noted as to how the substantial number of people in the country lives in rural areas and about 40% of the population is below the poverty line and the appellant-trust is to educate those daily wage earners in urban areas and industrial workers about the various aspects, which they are bound to know and held that the activity of publishing the newspaper can be covered under ''advancement of any other object of general public utility''. While testing the correctness of the order passed by the CIT(A), the Tribunal had relied upon the decision of the Cochin Bench of this Tribunal in Al-Madeena Charitable Trust -vs- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT Vs. Vegetable Products Ltd. reported in 88 ITR 192 (SC) that the view expressed by the High Court in favour of the assessee should be preferred to the views expressed as against the assessee and this aspect has not been considered by the Tribunal. 9. Further, Learned Counsel for the assessee placed reliance on the decision of the Punjab Haryana High Court in CIT -vs- Market Committee Pipli reported in 330 ITR 16 (P H) and CIT -vs- Tiny Tots Education Society reported in 330 ITR 21 (P H), wherein, it has been held that depreciation allowance on fixed assets of charitable trusts are not double deduction as claimed by the department. 10. Thus, in the light of what we have observed above, we are of the view that the Tribun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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