https://www.taxtmi.com/caselaws?id=381654 The Tribunal ruled in favor of the assessee, allowing the set-off of unabsorbed depreciation from AY 2001-02 in AY 2015-16, despite the 8-year time limit having lapsed. The Tribunal relied on precedents from the Hon'ble Gujarat High Court and the Hon'ble Rajasthan High Court, which held that the amended provisions allowed for indefinite carry forward and set off of unabsorbed depreciation. Consequently, the Tribunal concluded that the assessee's claim for set-off was valid, deciding in favor of the assessee and against the Revenue in both appeals. en-us Fri, 31 May 2019 00:00:00 +0530 Mon, 17 Jun 2019 07:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381654 The Tribunal ruled in favor of the assessee, allowing the set-off of unabsorbed depreciation from AY 2001-02 in AY 2015-16, despite the 8-year time limit having lapsed. The Tribunal relied on precedents from the Hon'ble Gujarat High Court and the Hon'ble Rajasthan High Court, which held that the amended provisions allowed for indefinite carry forward and set off of unabsorbed depreciation. Consequently, the Tribunal concluded that the assessee's claim for set-off was valid, deciding in favor of the assessee and against the Revenue in both appeals. Case-Laws Income Tax Fri, 31 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381654