https://www.taxtmi.com/caselaws?id=287271 The Tribunal allowed the appeal, directing the AO to permit the deduction of unabsorbed depreciation from the book profit under section 115JB of the Income Tax Act, 1961. It concluded that restructuring credits against accumulated losses did not extinguish unabsorbed depreciation, thus overturning the AO's disallowance. The Tribunal's decision was informed by established legal principles and prior judgments, resulting in the deletion of the AO's addition/disallowance. en-us Tue, 14 May 2019 00:00:00 +0530 Thu, 14 Nov 2024 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287271 The Tribunal allowed the appeal, directing the AO to permit the deduction of unabsorbed depreciation from the book profit under section 115JB of the Income Tax Act, 1961. It concluded that restructuring credits against accumulated losses did not extinguish unabsorbed depreciation, thus overturning the AO's disallowance. The Tribunal's decision was informed by established legal principles and prior judgments, resulting in the deletion of the AO's addition/disallowance. Case-Laws Income Tax Tue, 14 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287271