https://www.taxtmi.com/caselaws?id=282600 The Tribunal upheld the ld.CIT(A)'s decision and dismissed the Revenue's appeal regarding the deletion of an addition of unabsorbed depreciation. The Tribunal found that the unabsorbed depreciation from previous years would merge with the current year's depreciation and remain available indefinitely, in line with the precedent set by the Hon'ble jurisdictional High Court. Therefore, the Tribunal concluded that the assessee could perpetually utilize the unabsorbed depreciation until fully utilized, directing the AO to recompute the set off and carry forward accordingly. en-us Mon, 04 Feb 2019 00:00:00 +0530 Wed, 14 Aug 2019 06:53:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282600 The Tribunal upheld the ld.CIT(A)'s decision and dismissed the Revenue's appeal regarding the deletion of an addition of unabsorbed depreciation. The Tribunal found that the unabsorbed depreciation from previous years would merge with the current year's depreciation and remain available indefinitely, in line with the precedent set by the Hon'ble jurisdictional High Court. Therefore, the Tribunal concluded that the assessee could perpetually utilize the unabsorbed depreciation until fully utilized, directing the AO to recompute the set off and carry forward accordingly. Case-Laws Income Tax Mon, 04 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282600