https://www.taxtmi.com/caselaws?id=192419 The High Court dismissed the revenue's appeal for the assessment year 2007-08, in line with the Gujarat High Court judgment allowing for the unlimited carry forward and set off of unabsorbed depreciation against profits in subsequent years, removing the previous eight-year restriction. The Tribunal upheld the appellate order, emphasizing the removal of the time limit from the assessment year 2002-03 onwards, as per the provisions of section 32(2) amended by the Finance Act, 2001. en-us Thu, 11 Aug 2016 00:00:00 +0530 Wed, 31 May 2017 06:58:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192419 The High Court dismissed the revenue's appeal for the assessment year 2007-08, in line with the Gujarat High Court judgment allowing for the unlimited carry forward and set off of unabsorbed depreciation against profits in subsequent years, removing the previous eight-year restriction. The Tribunal upheld the appellate order, emphasizing the removal of the time limit from the assessment year 2002-03 onwards, as per the provisions of section 32(2) amended by the Finance Act, 2001. Case-Laws Income Tax Thu, 11 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192419