Dismissing the appeal of the revenue , the Court held that , Depreciation is allowable on assets whose cost of acquisition allowed as application to charitable purpose .
CIT v. Shyam Lal Panwar Anandi Devi Memorial Charitable Trust. (2018) 400 ITR 393 (Raj) (HC)
S.32: Depreciation- Charitable trust – Depreciation is allowable on assets whose cost of acquisition allowed as application to charitable purpose [ S. 12AA, 13(3) ]