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2019 (4) TMI 1486 - HC - Income TaxCarry forward of 'Unabsorbed Depreciation' - Carry forward to be allowed without limitation of eight years whether Assessee was entitled to carry forward and set off the 'Unabsorbed Depreciation' for the present year also? - HELD THAT:- Since the matter of calculation of 'Unabsorbed Depreciation' in which it was first computed and the limitation of eight years prior to amendment has not been properly computed in the present case, the matter deserves to be remanded back to the learned Assessing Authority for undertaking such computational exercise once again. Therefore, without answering the aforesaid questions of law framed for our consideration, we remand the matter back to the learned Assessing Authority in the present case for Assessment Year 2001-2002 for fresh consideration. The Assessee will be free to raise his factual as well as legal contentions before the learned Assessing Authority and the Assessing Authority will be free to take a fresh view in the matter. The Assessing Authority may pass fresh orders within six months from today.
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