2017 (7) TMI 1094 - SCH - Income Tax

Unabsorbed depreciation - to be dealt with in accordance with the provisions of section 32(2) as Amended by Finance (No.01) Act 2001 OR by the provisions of section 32(2) as it stood before the said Amendment? - scope of amendment - HC has held 2016 (12) TMI 1638 - BOMBAY HIGH COURT the unabsorbed depreciation for the Assessment Year 1997-98 upto Assessment Year 2001-02 could be allowed to be set off if it was still unabsorbed on 1st April 2001 - Held that - Application for condonation of delay allowed. Issue notice.

Summary

The Supreme Court in 2017 (7) TMI 1094 - SC Order, with judges R. K. Agrawal and Mohan M. Shantanagoudar, condoned the delay and issued notice to the petitioner. Petitioner represented by Mr. Maninder Singh, ASG, Mr. Sameer Abhyankar, Adv., Mr. Manish Pushkarna, Adv., and Ms. Anil Katiyar, AOR.