The income of a charitable institution is required to be computed under S 11 of the Act, on commercial principles after providing for allowance for normal depreciation and deduction thereof from the gross income of the institution.( AY.2009-10)
DIT(E) v. Krupanidhi Education Trust (2020) 423 ITR 616 (Karn)(HC)
S. 11 : Property held for charitable purposes – Depreciation – Allowable as deduction [ S.32 ]