Held that though the assessee society had not claimed depreciation on its fixed assets in its return of income, yet, as per Explanation 5 to section 32(1), depreciation was to be allowed while computing its income in a commercial manner. (AY. 2017-18)
Vidya Kunj School. v. ITO (2025) 211 ITD 11(SMC) (Raipur) (Trib.)
S. 32 : Depreciation-Not claimed-Commercial manner-As per Explanation 5 to section 32(1), depreciation was to be allowed while computing its income in a commercial manner. [S.11, 12, 12A, 32 (1)]
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