Dismissing the appeal of the revenue the Tribunal held that income referred to S.11(1)(a) of the Act was to be computed in accordance with the normal provisions Act but in accordance with the normal rules of accountancy under which the depreciation was to be allowed while computing such income .( AY. 2009-10)
Dy.CIT v. Nirma University ( 2018) 64 ITR 60 ( Ahd) (Trib)
S. 11 : Property held for charitable purposes – Depreciation- Income to be computed in normal commercial manner without classification under various heads referred in S.14 of the Act. [ S.14, 32 ]