https://www.taxtmi.com/caselaws?id=195492 The appeal was allowed in favor of the Assessee for A.Y. 2008-09 and 2009-10, concerning the maintainability of the claim for set off of unabsorbed depreciation allowance. The Gujarat High Court held that the claim for indefinite carry forward against profits and gains for subsequent years was permissible, overriding the interpretation of the Special Bench. The court ruled that the entire unabsorbed depreciation up to A.Y. 2001-02 would be governed by the amended provision, allowing the Assessee's claim. The decision was based on the precedent set by General Motors India Pvt. Ltd. en-us Wed, 27 Nov 2013 00:00:00 +0530 Wed, 01 Nov 2017 17:46:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195492 The appeal was allowed in favor of the Assessee for A.Y. 2008-09 and 2009-10, concerning the maintainability of the claim for set off of unabsorbed depreciation allowance. The Gujarat High Court held that the claim for indefinite carry forward against profits and gains for subsequent years was permissible, overriding the interpretation of the Special Bench. The court ruled that the entire unabsorbed depreciation up to A.Y. 2001-02 would be governed by the amended provision, allowing the Assessee's claim. The decision was based on the precedent set by General Motors India Pvt. Ltd. Case-Laws Income Tax Wed, 27 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195492