Not claimed application of Income towards depreciation as corresponding income shown under head “Deferred Grant Income includes in receipts under Section 11 of the Income Tax Act
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) directed re-adjudication as depreciation income was not claimed, given that corresponding deferred grant income was included as receipts under Section 11 of the Income Tax Act, 1961 The Assessee is a Trust registered under section 12A of the Income Tax Act as a…
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