Karnataka Reddy Janasangha Versus The Director of Income-tax (Exemptions) - Income Tax - Case Laws

Karnataka Reddy Janasangha Versus The Director of Income-tax (Exemptions) - Income Tax - ITAT BANGALORE - Tri - Depreciation on capital expenditure - Double deduction or not - Held that - Following CIT v Institute of Banking 2003 (7) TMI 52 - BOMBAY High Court - The income of the trust is required to be computed under section 11 on commercial principles, without reference to the heads of the income specified under section 14 of the Act - As per the CBDT Circular No.5-P (LXX-6) issued dated 19t................................... Income Tax - Case Laws