https://www.taxtmi.com/caselaws?id=274374 The Bombay High Court examined the interpretation of provisions related to unabsorbed depreciation allowance and the retroactive application of an amendment in Section 32 of the Income Tax Act. The court scrutinized the Tribunal's decision on allowing the set off of unabsorbed depreciation for specific assessment years, emphasizing adherence to statutory limitations and the legality of applying amendments retrospectively. The judgment underscores the significance of complying with statutory provisions and understanding the implications of amendments on past assessment years in complex tax matters. en-us Mon, 20 Feb 2017 00:00:00 +0530 Fri, 10 Aug 2018 13:59:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274374 The Bombay High Court examined the interpretation of provisions related to unabsorbed depreciation allowance and the retroactive application of an amendment in Section 32 of the Income Tax Act. The court scrutinized the Tribunal's decision on allowing the set off of unabsorbed depreciation for specific assessment years, emphasizing adherence to statutory limitations and the legality of applying amendments retrospectively. The judgment underscores the significance of complying with statutory provisions and understanding the implications of amendments on past assessment years in complex tax matters. Case-Laws Income Tax Mon, 20 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274374