Where Section 11(6) bars depreciation, capital expenditure applies as income, but pre-operative expenses cannot be deferred.
Where Section 11(6) bars depreciation, capital expenditure applies as income, but pre-operative expenses cannot be deferred. Issue Whether an assessee-trust disallowed from claiming depreciation under Section 11(6) is entitled to claim the actual capital expenditure incurred during the year as application of income under Section 11. Whether charitable organizations can defer pre-operative expenditure to be… Read More »