https://www.taxtmi.com/caselaws?id=169122 The Appellate Tribunal allowed the appeal, setting aside the lower authorities' orders regarding the disallowance of unabsorbed depreciation for carry forward and set off. The Tribunal held that the assessing authorities erred in their interpretation of the law and reinstated the assessee's right to carry forward the balance of unabsorbed depreciation without limitation post-amendment. The Assessing Officer was directed to redetermine the unabsorbed depreciation eligible for carry forward and set off in accordance with the correct provisions. The appeal was decided in favor of the assessee in a court hearing in Chennai in May 2014. en-us Mon, 05 May 2014 00:00:00 +0530 Mon, 06 Apr 2015 21:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169122 The Appellate Tribunal allowed the appeal, setting aside the lower authorities' orders regarding the disallowance of unabsorbed depreciation for carry forward and set off. The Tribunal held that the assessing authorities erred in their interpretation of the law and reinstated the assessee's right to carry forward the balance of unabsorbed depreciation without limitation post-amendment. The Assessing Officer was directed to redetermine the unabsorbed depreciation eligible for carry forward and set off in accordance with the correct provisions. The appeal was decided in favor of the assessee in a court hearing in Chennai in May 2014. Case-Laws Income Tax Mon, 05 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169122