https://www.taxtmi.com/caselaws?id=69296 The Tribunal dismissed the application for rectification, maintaining its original decision that unabsorbed depreciation of the earlier year cannot be set off against the assessee's income for the current assessment year. The Tribunal explained that at the time of the original order, no Madras High Court judgment was available, and the subsequent agreement by the Madras High Court did not render the issue non-debatable at the time of the Tribunal's decision. The Tribunal held that the absence of the Madras High Court's decision earlier did not constitute a mistake apparent from the records, thus upholding its initial ruling on the matter. en-us Fri, 14 Mar 1980 00:00:00 +0530 Wed, 06 Apr 2011 11:22:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69296 The Tribunal dismissed the application for rectification, maintaining its original decision that unabsorbed depreciation of the earlier year cannot be set off against the assessee's income for the current assessment year. The Tribunal explained that at the time of the original order, no Madras High Court judgment was available, and the subsequent agreement by the Madras High Court did not render the issue non-debatable at the time of the Tribunal's decision. The Tribunal held that the absence of the Madras High Court's decision earlier did not constitute a mistake apparent from the records, thus upholding its initial ruling on the matter. Case-Laws Income Tax Fri, 14 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69296