https://www.taxtmi.com/caselaws?id=65394 The Tribunal dismissed the assessee's appeal, upholding the CIT(A)'s decision that unabsorbed depreciation from the assessment year 1999-2000 should be set off against income from house property for the assessment year 2003-04, as per section 32(2) provisions effective from 1-4-2002. The Tribunal noted that the applicable law for any assessment year is the law as it stands on the first day of April of that year. Consequently, the issue of charging interest under sections 234A, 234B, 234C, and 234D was also dismissed as it was deemed consequential to the primary issue. en-us Fri, 25 Jan 2008 00:00:00 +0530 Thu, 18 Jan 2024 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65394 The Tribunal dismissed the assessee's appeal, upholding the CIT(A)'s decision that unabsorbed depreciation from the assessment year 1999-2000 should be set off against income from house property for the assessment year 2003-04, as per section 32(2) provisions effective from 1-4-2002. The Tribunal noted that the applicable law for any assessment year is the law as it stands on the first day of April of that year. Consequently, the issue of charging interest under sections 234A, 234B, 234C, and 234D was also dismissed as it was deemed consequential to the primary issue. Case-Laws Income Tax Fri, 25 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65394