Commissioner Of Income Tax (Exemption) - Jaipur v. M/S Shri Ram Niwas Dham Trust

IN THE HIGH COURT OF JUDICATURE FOR RAJASTHANAT JODHPUR J U D G M E N T D.B. INCOME TAX APPEAL NO.120/2015 Commissioner of Income Tax (Exemption) - JaipurVersusM/s Shri Ram Niwas Dham Trust Date of Judgment :: 13.04.2016 PRESENT HON'BLE MR. JUSTICE GOVIND MATHURHON'BLE MR. JUSTICE KAILASH CHANDRA SHARMA Mr. K.K. Bissa, with Mr. Gajendra Singh Chouhan, for the appellant BY THE COURT : It is well settled that in computing income of acharitable institution/trust, depreciation of assets owned by suchan institution is a necessary deduction on commercial principles,hence, the amount of depreciation has to be deducted to arrive atthe income available. This view is substantiated by a Division Benchjudgment of this Court in Commissioner of Income Tax-II, JodhpurVs. Krishi Upaj Mandi Samiti, Jaisalmer (D.B. Income Tax AppealNo.32/2010, decided on 16.1.2015). In view of it, we are of the considered opinion that thisappeal does not involve any substantial question of law thatdeserves adjudication by this Court. The appeal is dismissed. ,J. , J.