https://www.taxtmi.com/caselaws?id=339767 The Court upheld the Tribunal's decision in two Tax Appeals concerning the disallowance of accumulated unabsorbed depreciation deduction under Section 115JB of the Income-tax Act for different assessment years. It emphasized the importance of consistency in allowing deductions across assessment years, stating that in the absence of any change in circumstances, the Assessing Officer could not take a different view in subsequent years. The principle of res judicata was deemed applicable, preventing the Assessing Officer from adopting a contrary stance without valid reasons. As a result, both Tax Appeals were dismissed, affirming the principle of consistency in income tax assessments. en-us Fri, 17 Feb 2017 00:00:00 +0530 Tue, 07 Mar 2017 09:47:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339767 The Court upheld the Tribunal's decision in two Tax Appeals concerning the disallowance of accumulated unabsorbed depreciation deduction under Section 115JB of the Income-tax Act for different assessment years. It emphasized the importance of consistency in allowing deductions across assessment years, stating that in the absence of any change in circumstances, the Assessing Officer could not take a different view in subsequent years. The principle of res judicata was deemed applicable, preventing the Assessing Officer from adopting a contrary stance without valid reasons. As a result, both Tax Appeals were dismissed, affirming the principle of consistency in income tax assessments. Case-Laws Income Tax Fri, 17 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339767