https://www.taxtmi.com/caselaws?id=263177 The Tribunal allowed the assessee's appeals for assessment years 2007-08 and 2008-09, dismissing the Revenue's appeal for 2008-09. The Tribunal held that set off of carried forward losses and unabsorbed depreciation under MAT provisions should follow principles established in a specific case, allowing the set off. Additionally, the disallowance under Section 14A was deleted as the AO failed to provide reasons for rejecting the claim. The inclusion of profits from amalgamated units for computation of book profits was deemed incorrect as the merger occurred after the financial year end. en-us Fri, 14 Aug 2015 00:00:00 +0530 Thu, 27 Aug 2015 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263177 The Tribunal allowed the assessee's appeals for assessment years 2007-08 and 2008-09, dismissing the Revenue's appeal for 2008-09. The Tribunal held that set off of carried forward losses and unabsorbed depreciation under MAT provisions should follow principles established in a specific case, allowing the set off. Additionally, the disallowance under Section 14A was deleted as the AO failed to provide reasons for rejecting the claim. The inclusion of profits from amalgamated units for computation of book profits was deemed incorrect as the merger occurred after the financial year end. Case-Laws Income Tax Fri, 14 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263177