https://www.taxtmi.com/caselaws?id=274654 The court affirmed the Tribunal's decision allowing the carry forward of unabsorbed depreciation beyond 8 assessment years under section 260A of the Income Tax Act, 1961. Relying on a previous ruling, the court emphasized a purposive interpretation of the law, permitting unabsorbed depreciation to be carried forward until set off against future profits. The judgment clarified the application of section 32(2) and upheld the Tribunal's order, dismissing the appeals challenging the same. en-us Wed, 06 Dec 2017 00:00:00 +0530 Mon, 27 Aug 2018 17:34:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274654 The court affirmed the Tribunal's decision allowing the carry forward of unabsorbed depreciation beyond 8 assessment years under section 260A of the Income Tax Act, 1961. Relying on a previous ruling, the court emphasized a purposive interpretation of the law, permitting unabsorbed depreciation to be carried forward until set off against future profits. The judgment clarified the application of section 32(2) and upheld the Tribunal's order, dismissing the appeals challenging the same. Case-Laws Income Tax Wed, 06 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274654