https://www.taxtmi.com/caselaws?id=326262 The Appellate Tribunal allowed the assessee's appeal, overturning the Commissioner's order disallowing the carried forward depreciation. The Tribunal relied on a Gujarat High Court judgment, determining that the AO's decision was not erroneous. Consequently, the Tribunal reversed the Commissioner's order under section 263, emphasizing the significance of legal provisions and judicial precedents in such matters. The ruling favored the assessee, emphasizing the importance of considering relevant legal provisions and precedents in tax matters. en-us Fri, 05 Feb 2016 00:00:00 +0530 Mon, 11 Apr 2016 10:03:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326262 The Appellate Tribunal allowed the assessee's appeal, overturning the Commissioner's order disallowing the carried forward depreciation. The Tribunal relied on a Gujarat High Court judgment, determining that the AO's decision was not erroneous. Consequently, the Tribunal reversed the Commissioner's order under section 263, emphasizing the significance of legal provisions and judicial precedents in such matters. The ruling favored the assessee, emphasizing the importance of considering relevant legal provisions and precedents in tax matters. Case-Laws Income Tax Fri, 05 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326262