https://www.taxtmi.com/caselaws?id=274352 The High Court upheld the ITAT's direction to allow carry forward and set-off of unabsorbed depreciation from A.Y. 1997-98 to 1998-99 against profits of A.Y. 2008-09. It analyzed the interpretation of Section 32(2) pre-amendment by the Finance Act, 2001, and considered the impact of the Supreme Court's dismissal of the Department's SLP. The Court's decision demonstrated a comprehensive understanding of tax law complexities and judicial reasoning in applying legal provisions to the case at hand. en-us Wed, 19 Apr 2017 00:00:00 +0530 Thu, 09 Aug 2018 21:49:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274352 The High Court upheld the ITAT's direction to allow carry forward and set-off of unabsorbed depreciation from A.Y. 1997-98 to 1998-99 against profits of A.Y. 2008-09. It analyzed the interpretation of Section 32(2) pre-amendment by the Finance Act, 2001, and considered the impact of the Supreme Court's dismissal of the Department's SLP. The Court's decision demonstrated a comprehensive understanding of tax law complexities and judicial reasoning in applying legal provisions to the case at hand. Case-Laws Income Tax Wed, 19 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274352