SECTION 32:

The Delhi ITAT held that depreciation is allowable on assets acquired by assessee-Charitable trust by
application of income of trust. Decided Case: Escorts Cardiac Diseases Hospital Society v/s Assistant Director of Income-tax (Exemption), Trust.
The Delhi ITAT held that assessee would be allowed
depreciation on factory building owned by it though registration of title of said building in its name was pending.