https://www.taxtmi.com/caselaws?id=328040 The Tribunal upheld the CIT(A)'s decision to allow the carry forward of unabsorbed depreciation for AY 1994-95, 1995-96, 1996-97, and 1997-98, based on the Gujarat High Court's ruling in General Motors India Pvt. Ltd. The Tribunal dismissed the Revenue's appeals, noting that unabsorbed depreciation could be carried forward indefinitely under the amended provisions of Section 32(2) of the Income Tax Act, 1961. The Assessee's cross objections challenging the reassessment proceedings under Section 147 for AY 2004-05 and 2005-06 were also dismissed. en-us Wed, 11 May 2016 00:00:00 +0530 Wed, 25 May 2016 08:25:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328040 The Tribunal upheld the CIT(A)'s decision to allow the carry forward of unabsorbed depreciation for AY 1994-95, 1995-96, 1996-97, and 1997-98, based on the Gujarat High Court's ruling in General Motors India Pvt. Ltd. The Tribunal dismissed the Revenue's appeals, noting that unabsorbed depreciation could be carried forward indefinitely under the amended provisions of Section 32(2) of the Income Tax Act, 1961. The Assessee's cross objections challenging the reassessment proceedings under Section 147 for AY 2004-05 and 2005-06 were also dismissed. Case-Laws Income Tax Wed, 11 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328040