https://www.taxtmi.com/caselaws?id=397049 The High Court dismissed the Revenue's appeal, upholding the Tribunal's decision that unabsorbed depreciation from assessment years 2001-02 and prior could be set off without any time limit under the amended provision of Section 32(2) of the Income Tax Act. The Tribunal's deletion of the disallowance for setting off brought forward unabsorbed depreciation for assessment years 1999-2000 and 2000-2001 was also affirmed. The Court found no substantial question of law and dismissed the appeal, ruling in favor of the assessee without costs. en-us Wed, 29 Jul 2020 00:00:00 +0530 Wed, 07 Oct 2020 15:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397049 The High Court dismissed the Revenue's appeal, upholding the Tribunal's decision that unabsorbed depreciation from assessment years 2001-02 and prior could be set off without any time limit under the amended provision of Section 32(2) of the Income Tax Act. The Tribunal's deletion of the disallowance for setting off brought forward unabsorbed depreciation for assessment years 1999-2000 and 2000-2001 was also affirmed. The Court found no substantial question of law and dismissed the appeal, ruling in favor of the assessee without costs. Case-Laws Income Tax Wed, 29 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397049