https://www.taxtmi.com/caselaws?id=356164 The Tribunal upheld the CIT(A)'s decision, allowing the set off of unabsorbed depreciation against the addition made under Section 68 of the Income Tax Act. The Tribunal emphasized that unabsorbed depreciation should be treated as current year depreciation and allowed to be set off against other heads of income, following the principles laid down by the Hon'ble Supreme Court and various High Courts. The appeal of the revenue was dismissed, affirming the CIT(A)'s order. en-us Wed, 21 Feb 2018 00:00:00 +0530 Mon, 26 Feb 2018 08:30:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356164 The Tribunal upheld the CIT(A)'s decision, allowing the set off of unabsorbed depreciation against the addition made under Section 68 of the Income Tax Act. The Tribunal emphasized that unabsorbed depreciation should be treated as current year depreciation and allowed to be set off against other heads of income, following the principles laid down by the Hon'ble Supreme Court and various High Courts. The appeal of the revenue was dismissed, affirming the CIT(A)'s order. Case-Laws Income Tax Wed, 21 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356164