{"id":15873,"date":"2021-03-24T12:10:46","date_gmt":"2021-03-24T06:40:46","guid":{"rendered":"https:\/\/itatonline.org\/digest\/vidya-bharati-society-for-education-scientific-advancement-v-acit-2020-182-itd-282-kol-trib\/"},"modified":"2021-03-24T12:10:46","modified_gmt":"2021-03-24T06:40:46","slug":"vidya-bharati-society-for-education-scientific-advancement-v-acit-2020-182-itd-282-kol-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/vidya-bharati-society-for-education-scientific-advancement-v-acit-2020-182-itd-282-kol-trib\/","title":{"rendered":"Vidya Bharati Society For Education &#038; Scientific Advancement v. ACIT (2020) 182 ITD 282 (Kol.)(Trib.)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Tribunal held that annual Development fees collected by assessee\u00a0 from students for development of\u00a0 school building and purchase of\u00a0 capital assets and kept in separate account solely for said purpose cannot be treated as income or revenue receipt for purpose of\u00a0 Section 11 of the Act . Tribunal also held that prior to 1-4-2015 depreciation is allowable even if expenditure incurred for acquisition of\u00a0 such assets was treated as application of\u00a0 income for charitable purposes. (AY. 2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 11 : Property held for charitable purposes-Annual Development fee-For development of school building-Not to be treated as revenue receipt-Prior to 1-4 2015 , depreciation is allowable eve if the such asset was treated as application of income.  [S. 32] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-15873","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-481","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=15873"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15873\/revisions"}],"predecessor-version":[{"id":15874,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15873\/revisions\/15874"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=15873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=15873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=15873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}