24 October 2012
In CIT Vs Society of Sister of St. Anne 146 ITR 28,depreciation in addition to capital expenditure is allowed to be claimed as income applied to charitable/religious purposes. But in view of the decision of the Supreme Court in Escorts Ltd. V Union of India reported in 199 ITR 43, double deduction in respect of the same outgoing ,i.e. depreciation and capital expenditure, cannot be allowed.