https://www.taxtmi.com/caselaws?id=249562 The Tribunal upheld the CIT(A)'s decision to allow the revised return for set off of unabsorbed depreciation, deeming it valid and a genuine mistake by the assessee. The Tribunal affirmed that the Assessing Officer would have been obligated to allow the carried forward loss or depreciation even without the revised return. Additionally, the Tribunal supported the CIT(A)'s ruling on the disallowance of compensation for crop loss, stating that the liability arose during the relevant period, leading to the dismissal of the Revenue's appeal on both issues. en-us Wed, 09 Jul 2014 00:00:00 +0530 Thu, 17 Jul 2014 08:37:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249562 The Tribunal upheld the CIT(A)'s decision to allow the revised return for set off of unabsorbed depreciation, deeming it valid and a genuine mistake by the assessee. The Tribunal affirmed that the Assessing Officer would have been obligated to allow the carried forward loss or depreciation even without the revised return. Additionally, the Tribunal supported the CIT(A)'s ruling on the disallowance of compensation for crop loss, stating that the liability arose during the relevant period, leading to the dismissal of the Revenue's appeal on both issues. Case-Laws Income Tax Wed, 09 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249562