https://www.taxtmi.com/caselaws?id=194470 The High Court of Bombay dismissed the appeal challenging the Income Tax Appellate Tribunal's order for the Assessment Year 2007-08 on depreciation and deficit carry forward issues. The Court upheld the Tribunal's decision to allow depreciation and set off deficit based on a previous High Court ruling, despite the Revenue's objections citing a Supreme Court judgment on double deduction. The Court found no substantial legal issue in the appeal and ruled in favor of the respondent without costs. en-us Tue, 03 May 2016 00:00:00 +0530 Sat, 09 Sep 2017 09:17:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194470 The High Court of Bombay dismissed the appeal challenging the Income Tax Appellate Tribunal's order for the Assessment Year 2007-08 on depreciation and deficit carry forward issues. The Court upheld the Tribunal's decision to allow depreciation and set off deficit based on a previous High Court ruling, despite the Revenue's objections citing a Supreme Court judgment on double deduction. The Court found no substantial legal issue in the appeal and ruled in favor of the respondent without costs. Case-Laws Income Tax Tue, 03 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194470