https://www.taxtmi.com/caselaws?id=64992 The Tribunal upheld the CIT's order, ruling that "loss" under section 115J of the Income-tax Act, 1961, does not include "unabsorbed depreciation." The appeal was dismissed, affirming that the assessment order allowing the set-off of depreciation against profits was erroneous and prejudicial to revenue interests. The Tribunal held that High Court decisions are binding on Tribunals, following the Andhra Pradesh High Court's interpretation. en-us Fri, 31 May 1996 00:00:00 +0530 Fri, 11 Feb 2011 15:28:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64992 The Tribunal upheld the CIT's order, ruling that "loss" under section 115J of the Income-tax Act, 1961, does not include "unabsorbed depreciation." The appeal was dismissed, affirming that the assessment order allowing the set-off of depreciation against profits was erroneous and prejudicial to revenue interests. The Tribunal held that High Court decisions are binding on Tribunals, following the Andhra Pradesh High Court's interpretation. Case-Laws Income Tax Fri, 31 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64992