TMI Blog2022 (7) TMI 121X X X X Extracts X X X X X X X X Extracts X X X X ..... spondent : Ms. Rita Dokania, CIT/DR ORDER PER : ANNAPURNA GUPTA, ACCOUNTANT MEMBER:- The present appeal has been filed by the Revenue against the order passed by the Commissioner of Income Tax (Appeals)-8, Ahmedabad, (in short referred to as CIT(A)), dated 20-02-2020, u/s. 250(6) of the Income Tax Act, 1961(hereinafter referred to as the Act ) pertaining to Assessment Year (A.Y) 2009-10. 2. The Registry has marked the appeal as delayed by 32 days having been filed on 03/06/2020.We have however noted that due to the pandemic of Covid-19, the limitation prescribed for filing appeals was extended till further orders by the Hon ble Supreme Court vide its order dated 23/03/2020 in Suo Moto Writ Petition (Civil) No.(s) 3/2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 009-10 resp. That further unabsorbed depreciation pertaining to AY 1997-98 to AY 2001- 02 was not eligible for relief granted by the amended section 32(2) in AY 2002-03. 6. The assessee carried the matter in appeal before the ld. CIT(A) who allowed carry forward of the impugned unabsorbed depreciation following decision of the Hon ble Jurisdictional High Court in the case of General Motors India Pvt. Ltd. vs. DCIT noting that it clearly stated that the unabsorbed depreciation of A.Y. 2000-01 2001-02 should also be allowed to be carried forward in the future years as part of current depreciation brought forward in accordance with the provisions of Section 32(2) of the Act. The relevant portion of the ld. CIT(A) at para 7 is as under: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there is current depreciation for such succeeding year the unabsorbed depreciation is added to the current depreciation for such succeeding year and is deemed as part thereof. If, however, there is no current depreciation for such succeeding year, the unabsorbed depreciation becomes the depreciation allowance for such succeeding year. We are of the considered opinion that any unabsorbed depreciation available to an assessee on 1st day of April 2002 (A.Y. 2002-03) will be dealt with in accordance with the provisions of section 32(2) as amended by Finance Act, 2001. And once the Circular No.14 of 2001 clarified that the restriction of 8 years for carry forward and set off of depreciation from A,Y, 1997-98 upto the A.Y, 2001-$2 got carried f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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