Allowance of depreciation to assessee trust - When the asset was ...

Trust Can Claim Depreciation on Assets for Charitable Purposes; Section 32 of Income Tax Act Not Applicable.

May 5, 2016

Case Laws Income Tax AT

Allowance of depreciation to assessee trust - When the asset was used as tool for carrying out the object of the charitable institution, such activity cannot be construed as a business or profession of the assessee. Therefore, Section 32 is not applicable in this case - AT

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Allowance of depreciation to assessee trust - When the asset was ...

Trust Can Claim Depreciation on Assets for Charitable Purposes; Section 32 of Income Tax Act Not Applicable.

May 5, 2016

Case Laws Income Tax AT

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