https://www.taxtmi.com/caselaws?id=269605 The High Court dismissed the appeal challenging the Tribunal's order on the set off of unabsorbed loss/depreciation against current year's profit for a 10B unit. The Court emphasized that the Karnataka High Court's decision, upheld by the Apex Court, was based on a previous version of Section 10B, making it inapplicable to the current case. Relying on its previous rulings favoring the assessee, the Court concluded that the proposed legal question did not raise a substantial issue, resulting in the dismissal of the appeal with no order as to costs. en-us Sat, 05 Dec 2015 00:00:00 +0530 Wed, 16 Dec 2015 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269605 The High Court dismissed the appeal challenging the Tribunal's order on the set off of unabsorbed loss/depreciation against current year's profit for a 10B unit. The Court emphasized that the Karnataka High Court's decision, upheld by the Apex Court, was based on a previous version of Section 10B, making it inapplicable to the current case. Relying on its previous rulings favoring the assessee, the Court concluded that the proposed legal question did not raise a substantial issue, resulting in the dismissal of the appeal with no order as to costs. Case-Laws Income Tax Sat, 05 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269605