https://www.taxtmi.com/caselaws?id=278608 The High Court upheld the Tribunal's decision on both issues, allowing the set off of unabsorbed depreciation against long term capital gain and accepting the depreciation claim on the sale of a building. The Court emphasized the provisions of the Income Tax Act, specifically Sections 32(2), 70, 71, and 72, and highlighted the process of deducting current depreciation and absorbing excess from profits of other sources. The judgment provided detailed explanations and references to legal provisions and precedents, affirming the Tribunal's rulings without costs. en-us Thu, 11 Feb 2016 00:00:00 +0530 Thu, 14 Feb 2019 06:16:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278608 The High Court upheld the Tribunal's decision on both issues, allowing the set off of unabsorbed depreciation against long term capital gain and accepting the depreciation claim on the sale of a building. The Court emphasized the provisions of the Income Tax Act, specifically Sections 32(2), 70, 71, and 72, and highlighted the process of deducting current depreciation and absorbing excess from profits of other sources. The judgment provided detailed explanations and references to legal provisions and precedents, affirming the Tribunal's rulings without costs. Case-Laws Income Tax Thu, 11 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278608