https://www.taxtmi.com/caselaws?id=384052 The High Court of Calcutta, in a case concerning the interpretation of claiming unabsorbed depreciation in a section 148 proceeding under the Income Tax Act, 1961, reiterated that unabsorbed depreciation cannot be claimed without filing returns under sections 139(1) or 139(2). Despite attempts by the applicant's counsel to prolong the argument with irrelevant judgments, the Court upheld the Division Bench precedent and ruled in favor of the revenue, disposing of the reference application without interference with the tribunal's order. The judgment emphasized the importance of adhering to established legal precedents and avoiding frivolous litigation. en-us Wed, 17 Jul 2019 00:00:00 +0530 Sat, 03 Aug 2019 17:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384052 The High Court of Calcutta, in a case concerning the interpretation of claiming unabsorbed depreciation in a section 148 proceeding under the Income Tax Act, 1961, reiterated that unabsorbed depreciation cannot be claimed without filing returns under sections 139(1) or 139(2). Despite attempts by the applicant's counsel to prolong the argument with irrelevant judgments, the Court upheld the Division Bench precedent and ruled in favor of the revenue, disposing of the reference application without interference with the tribunal's order. The judgment emphasized the importance of adhering to established legal precedents and avoiding frivolous litigation. Case-Laws Income Tax Wed, 17 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384052