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2016 (3) TMI 1297 - AT - Income TaxCarry forward of unabsorbed depreciation - Held that:- Unabsorbed depreciation of AY.1997-98 could be allowed to be carry forward and set off after a period of 8 years in view of the amended section 32(2) of the Act. Respectfully following case of General Motors (I) Pvt.Ltd. [2012 (8) TMI 714 - GUJARAT HIGH COURT] we uphold the order of the FAA in allowing carry forward - Decided in favour of assessee.
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