TMI Blog2018 (11) TMI 1343X X X X Extracts X X X X X X X X Extracts X X X X ..... behalf in the Income Tax Act, has made amendment in Section 11(6) of the Act vide Finance Act No. 2/2014 which became effective from the Assessment Year 2015-2016. The Delhi High Court has taken the view and rightly so, that the said amendment is prospective in nature - once assessee is allowed depreciation, he shall be entitled to carry forward the depreciation as well. Section 11(6) of the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8 ITR 344 (Ker)] - Civil Appeal No.5091/2013. The learned Senior Counsel appearing for the assessee, however, brings to our notice the later judgment of the Hon'ble Supreme Court dated 13.12.2017 reported in Commissioner of Income Tax v. Rajasthan and Gujarati Charitable Foundation, [2018] 402 ITR 441 (SC). Hence, we recalled the judgment and reheard the matter. 2. In Lissy Medical ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sing from a judgment of the High Court of Bombay and many other High Courts. The Decision of the Bombay High Court as also the decision of the Hon'ble Supreme Court is reported as Commissioner of Income Tax v. Rajasthan and Gujarati Charitable Foundation (Supra) . We herein extract the following paragraphs:- After hearing the learned counsel for the parties, we are of the opinion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le Supreme Court is dated 13.12,2017. It is to be noticed that in Lissy Medical Institution's case the learned Judges of the Hon'ble Supreme Court specifically observed that they are not going into the merits of the case. In the later judgment, however the merits were looked into and the claim of the assessee was allowed. It is also specifically noticed that Section 11(6) of the Act ha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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