Dismissing the appeal of the revenue, the Court held that ;provision disallowance of depreciation on assets whose cost allowed as application of income applies prospectively ( AY. 2010-11, 2011-12)
CIT v. Institute for Development and Research in Banking Technology. (2018) 400 ITR 66/ 165 DTR 104 /302 CTR 332 (T & AP) (HC) Editorial: Institute for Development and Research in Banking Technology v. ADIT ( E ) ( 2015) 42 ITR 219 ( Hyd) (Trib) is affirmed
S. 32 : Depreciation – Application of income as cost of assets -–Disallowance of depreciation- Amendment applies prospectively [ S. 11 (6) ]