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2016 (1) TMI 747 - AT - Income TaxCarry forward of unabsorbed depreciation - CIT(A) allowed the claim - grievance of the Revenue appears to be that the application filed by the respondent assessee company is barred by limitation - Held that:- Assessing Officer is duty-bound to intimate the losses which are entitled to be carry forward. If the Assessing Officer fails to do so, the right of the respondent assessee is to carry forward such losses is in no way affected. The right conferred upon the assessee to carry forward the losses of the previous years for a specified period is an absolute unqualified statutory right is nowhere conditional upon the quantification or intimation of the losses. That apart keeping in view the provisions of Clause II to sub-section (3) of Section 153, the period of limitation is not applicable to the proceedings consequent upon the orders of appellate or revisional authorities. Therefore, we do not find any reason to interfere with the orders of Ld. CIT(A).- Decided against revenue
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