TMI Blog2008 (2) TMI 20X X X X Extracts X X X X X X X X Extracts X X X X ..... o.95/2008 - - - Dated:- 25-2-2008 - Coram: HON'BLE MR. JUSTICE V.B. GUPTA V.B. GUPTA, J. (Oral) The Revenue being aggrieved by order dated 16 th March, 2007 of Income Tax Appellate Tribunal (for short as Tribunal), Delhi Bench "E" in ITA No.89/Del/2005 relevant for the Assessment Year 1998-1999 has filed this appeal. 2. The brief facts of this case are that Assessee who is engaged in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Assessee thereafter filed an application for rectification under Section 154 of the Act claiming that CIT (A) had not considered brought forward depreciation which forms part of brought forward losses and which had been assessed in the past. The Assessee contended that brought forward unabsorbed depreciation must be allowed even if the business is discontinued. 5. The CIT (A) rectifie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee continues the same business. 9. The Tribunal in the impugned order has held that:-"The claim for unabsorbed depreciation is a matter of record for which no factual finding is necessary. Thus, after computing the income, the Assessee is always entitled to claim for set off of unabsorbed depreciation. This claim is admissible whether the Assessee carry on the same business or not." ..... X X X X Extracts X X X X X X X X Extracts X X X X
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