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2015 (9) TMI 1752 - AT - Income TaxRectification of application u/s 154 - Set off the carried forward depreciation from earlier years - HELD THAT:- Assessee would be in a position to demonstrate before the AO in respect of the claim of depreciation. There is not dispute with regard to the fact. It has been held in case of CIT Vs. Virmani Industries Pvt. Ltd. [1995 (10) TMI 1 - SUPREME COURT] even if there is no activity being carried out by the assessee is a particular year, however, he would be entitled to set off the carried forward depreciation from earlier years. Therefore, after considering the totality of the fact, we deem it proper to modify our order [2014 (6) TMI 1034 - ITAT AHMEDABAD] and restore the issue of claim of depreciation to the file of AO for decision afresh. We hereby modify our order accordingly.
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