https://www.taxtmi.com/caselaws?id=404189 The High Court dismissed the revenue's appeal under Section 260-A of the Income Tax Act, 1961 for the Assessment Year 2009-10. The court ruled against the revenue on both substantial questions of law, affirming the assessee's eligibility for claiming depreciation on assets purchased through income application and for carrying forward deficits to subsequent years for set off with future year income. The decision was based on precedents and reasoning from previous judgments referenced during the hearing. en-us Wed, 20 Jan 2021 00:00:00 +0530 Thu, 18 Feb 2021 04:26:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404189 The High Court dismissed the revenue's appeal under Section 260-A of the Income Tax Act, 1961 for the Assessment Year 2009-10. The court ruled against the revenue on both substantial questions of law, affirming the assessee's eligibility for claiming depreciation on assets purchased through income application and for carrying forward deficits to subsequent years for set off with future year income. The decision was based on precedents and reasoning from previous judgments referenced during the hearing. Case-Laws Income Tax Wed, 20 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404189