https://www.taxtmi.com/caselaws?id=351676 The court upheld the decision of the Income-tax Appellate Tribunal (ITAT) to allow the carry forward of losses and depreciation for the assessment year 2001-02 for the assessee-company. The ITAT's decision was based on the extension granted by the Board for Industrial and Financial Reconstruction (BIFR) until December 31, 2001, considering the change in management and the rehabilitation plan. The court found that denying these benefits was unjustified, dismissing the Revenue's appeal and affirming the ITAT's decision in favor of the assessee. en-us Tue, 24 Oct 2017 00:00:00 +0530 Wed, 29 Nov 2017 07:45:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351676 The court upheld the decision of the Income-tax Appellate Tribunal (ITAT) to allow the carry forward of losses and depreciation for the assessment year 2001-02 for the assessee-company. The ITAT's decision was based on the extension granted by the Board for Industrial and Financial Reconstruction (BIFR) until December 31, 2001, considering the change in management and the rehabilitation plan. The court found that denying these benefits was unjustified, dismissing the Revenue's appeal and affirming the ITAT's decision in favor of the assessee. Case-Laws Income Tax Tue, 24 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351676