https://www.taxtmi.com/caselaws?id=186835 The Tribunal upheld the CIT(A)'s decision to allow the carry forward of unabsorbed depreciation for AY 1994-95 to 1999-2000, dismissing the revenue's appeal. The Tribunal relied on judicial precedents, including the Gujarat High Court's ruling in General Motors India Pvt. Ltd., confirming that unabsorbed depreciation could be carried forward without any time limit post the amendment. The decision in Bengal Tea & Fabrics Limited was also considered, allowing set off of unabsorbed depreciation beyond the initial time limit. The Tribunal found the CIT(A)'s decision consistent with legal precedents, affirming the allowance of carry forward of unabsorbed depreciation. en-us Wed, 01 Jun 2016 00:00:00 +0530 Sat, 01 Oct 2016 17:04:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186835 The Tribunal upheld the CIT(A)'s decision to allow the carry forward of unabsorbed depreciation for AY 1994-95 to 1999-2000, dismissing the revenue's appeal. The Tribunal relied on judicial precedents, including the Gujarat High Court's ruling in General Motors India Pvt. Ltd., confirming that unabsorbed depreciation could be carried forward without any time limit post the amendment. The decision in Bengal Tea & Fabrics Limited was also considered, allowing set off of unabsorbed depreciation beyond the initial time limit. The Tribunal found the CIT(A)'s decision consistent with legal precedents, affirming the allowance of carry forward of unabsorbed depreciation. Case-Laws Income Tax Wed, 01 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186835