https://www.taxtmi.com/caselaws?id=274351 The High Court admitted the appeal to determine the correctness of the ITAT's decision allowing the carry forward and set-off of unabsorbed depreciation from A.Y. 1994-95 to 1998-99 against profits of A.Y. 2007-08. The Court will evaluate the legal and factual aspects to decide on the eligibility of such depreciation beyond the specified period under Section 32(2) pre-amendment by the Finance Act, 2001. Additionally, the Court will assess the appropriateness of the ITAT's reliance on a specific case without a definitive stance from the Supreme Court. The case is set for further examination alongside another Income Tax Appeal. en-us Mon, 03 Apr 2017 00:00:00 +0530 Thu, 09 Aug 2018 21:49:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274351 The High Court admitted the appeal to determine the correctness of the ITAT's decision allowing the carry forward and set-off of unabsorbed depreciation from A.Y. 1994-95 to 1998-99 against profits of A.Y. 2007-08. The Court will evaluate the legal and factual aspects to decide on the eligibility of such depreciation beyond the specified period under Section 32(2) pre-amendment by the Finance Act, 2001. Additionally, the Court will assess the appropriateness of the ITAT's reliance on a specific case without a definitive stance from the Supreme Court. The case is set for further examination alongside another Income Tax Appeal. Case-Laws Income Tax Mon, 03 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274351