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2017 (2) TMI 324 - AT - Income TaxClaim of set off of brought forward unabsorbed depreciation pertaining to AY 1999-2000 against the income of AY 2008-09 - Held that:- Respectfully following the judgment of Hon. Jurisdictional High Court in the case of Gujarat Themis Biosyn Ltd. (2014 (5) TMI 194 - GUJARAT HIGH COURT) and in the case of General Motors India P. Ltd. (2012 (8) TMI 714 - GUJARAT HIGH COURT ) we are of the view that as per the provisions of sec.32(2) of the Act as amended by Finance Act, 2001, unabsorbed depreciation concerning assessment year 1997-98, 1999-2000, 2000-01 and 2001-02 can be set off in subsequent years without any time limit. We, therefore, find no reason to interfere with the order of ld. CIT(A) and dismiss the appeal of Revenue.
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