Tribunal held that, Amendment in S.11(6) is prospective and applicable for and from 2015-16 onwards- Depreciation is allowable on assets even though cost of same was allowed as application. Followed CIT v. Rajasthan & Gujarati Charitable Foundation (2018) 402 ITR 441( SC) (AY.2011-12)
MAJ Hospital v. DCIT (2018) 173 ITD 554 / 196 TTJ 1149/(2019) 173 DTR 236 (Cochin)(Trib.)
S. 32 : Depreciation-Charitable trust-Amendment in S.11(6) is prospective and applicable for and from 2015-16 onwards- Depreciation is allowable on assets even though cost of same was allowed as application. [S. 11(6)]