https://www.taxtmi.com/caselaws?id=392170 The Tribunal upheld the decision of the Ld. CIT (A) and dismissed the revenue's appeal. It affirmed the allowance of carry forward of unabsorbed depreciation beyond 8 years, interpreting the provisions enacted in the Finance Act 1988-89 in favor of the assessee. The Tribunal held that the Finance Act 2001 reinstated the original provisions regarding the set off of unabsorbed depreciation, allowing for unlimited carry forward without restriction on the number of years. This judgment was pronounced on 13-12-2019. en-us Fri, 13 Dec 2019 00:00:00 +0530 Thu, 13 Feb 2020 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392170 The Tribunal upheld the decision of the Ld. CIT (A) and dismissed the revenue's appeal. It affirmed the allowance of carry forward of unabsorbed depreciation beyond 8 years, interpreting the provisions enacted in the Finance Act 1988-89 in favor of the assessee. The Tribunal held that the Finance Act 2001 reinstated the original provisions regarding the set off of unabsorbed depreciation, allowing for unlimited carry forward without restriction on the number of years. This judgment was pronounced on 13-12-2019. Case-Laws Income Tax Fri, 13 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392170