Allowing the appeal of the assessee the Tribunal held that annual Development fees collected by assessee  from students for development of  school building and purchase of  capital assets and kept in separate account solely for said purpose cannot be treated as income or revenue receipt for purpose of  Section 11 of the Act . Tribunal also held that prior to 1-4-2015 depreciation is allowable even if expenditure incurred for acquisition of  such assets was treated as application of  income for charitable purposes. (AY. 2010-11)