IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. I.T.A. No.827 of 2010 & connected case being ITA No.828 of 2010 Date of decision: 24.2.2011 The Commissioner of Income Tax -----Appellant. Vs. Market Committee, Bhuna. -----Respondent CORAM:- HON'BLE MR. JUSTICE ADARSH KUMAR GOEL HON'BLE MR. JUSTICE AJAY KUMAR MITTAL Present:- Mr. Yogesh Putney, Sr.Standing Counsel for the appellant. --- ADARSH KUMAR GOEL, J. This appeal has been preferred by the revenue under Section 260-A of the Income Tax Act, 1961 (for short, “the Act”) against the order of the Income Tax Appellate Tribunal, New Delhi in I.T.A. No.2720/Del/2008 for the assessment year 2004- 05 proposing following substantial question of law:- “Whether on the facts and in the circumstances of the case, the Ld. ITAT was justified in holding that the depreciation on fixed asset is allowable in the case of charitable trust/institution particularly when the income is computed as per provisions of section 11 to 13 of the Income Tax Act, 1961 as question of depreciation does not arise when capital expenditure is also considered as application of income of the I.T.A. No.827 of 2010 assessee and there remains no assets/WDV for claim of depreciation?” Learned counsel for the revenue fairly states that the matter is covered against the revenue by order of this Court dated 5.7.2010 in I.T.A. No.535 of 2009 CIT v. Market Committee, Pipli. Accordingly, the appeals are dismissed. A photocopy of this order be placed on the file of other connected case. (ADARSH KUMAR GOEL) JUDGE February 24, 2011 ( AJAY KUMAR MITTAL ) ashwani JUDGE 2