https://www.taxtmi.com/caselaws?id=297505 The Tribunal dismissed the Revenue's appeal and the assessee's cross objection. It upheld the direction to allow set off and carry forward of depreciation against long term capital gains, citing relevant legal precedents and provisions. The Tribunal found the Assessing Officer's rejection of the legal precedents unacceptable and directed the allowance of the claim for the relevant assessment year. The cross objection on the reopening of assessment was deemed unnecessary and dismissed as the Revenue's appeal was dismissed on its merits. The judgment was pronounced on 22nd June 2016. en-us Wed, 22 Jun 2016 00:00:00 +0530 Wed, 08 Sep 2021 08:32:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297505 The Tribunal dismissed the Revenue's appeal and the assessee's cross objection. It upheld the direction to allow set off and carry forward of depreciation against long term capital gains, citing relevant legal precedents and provisions. The Tribunal found the Assessing Officer's rejection of the legal precedents unacceptable and directed the allowance of the claim for the relevant assessment year. The cross objection on the reopening of assessment was deemed unnecessary and dismissed as the Revenue's appeal was dismissed on its merits. The judgment was pronounced on 22nd June 2016. Case-Laws Income Tax Wed, 22 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297505