https://www.taxtmi.com/caselaws?id=221583 The High Court dismissed the appeal, affirming the Tribunal's decision to allow the set-off of unabsorbed depreciation against income from capital gains. The Court held that the Commissioner of Income Tax was not justified in invoking Section 263 to revise the original assessment order. The judgment clarified the interpretation of Section 34-A and reinforced the distinctions between unabsorbed depreciation and carried forward loss. en-us Wed, 06 Mar 2013 00:00:00 +0530 Fri, 09 Sep 2022 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221583 The High Court dismissed the appeal, affirming the Tribunal's decision to allow the set-off of unabsorbed depreciation against income from capital gains. The Court held that the Commissioner of Income Tax was not justified in invoking Section 263 to revise the original assessment order. The judgment clarified the interpretation of Section 34-A and reinforced the distinctions between unabsorbed depreciation and carried forward loss. Case-Laws Income Tax Wed, 06 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221583