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2016 (1) TMI 1346 - AT - Income TaxSet off of unabsorbed depreciation allowance after the lapse of 8 years - Held that:- Once Circular No.14 of 2001 clarified that the restriction of 8 years for carry forward and set off of unabsorbed depreciation had been dispensed with, the unabsorbed depreciation got carried forward to next A.Y.2002-03 and became a part thereof, it came to be governed by the provisions of section 32(2) as amended by Finance Act 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. See General Motors India P. Ltd. Vs. DCIT [2012 (8) TMI 714 - GUJARAT HIGH COURT] - Decided in favour of assessee. Addition u/s 14A - Held that:- AO has not considered the supportive documents placed on record specifically entries at page No. 5 & 8 of the paper book. Having regard to the facts and circumstances of the case as well as concurring with the principles laid down in the case of Garware Wall Ropes Ltd. (2015 (2) TMI 628 - ITAT MUMBAI) we are of the considered opinion that the matter deserves to be remanded back to the file of the Assessing Officer for analyzing and consideration of the paper book
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