https://www.taxtmi.com/caselaws?id=297520 The Tribunal upheld the CIT(A)'s decision to allow the assessee to set off unabsorbed depreciation against long term capital gain for the assessment year 2009-10. Relying on the judgment of the Gujarat High Court, the Tribunal dismissed the revenue's appeal, confirming the set off. The Tribunal found no reason to interfere with the lower authorities' order, leading to the dismissal of both the revenue's appeal and the assessee's cross objection. The decision was pronounced in Chennai on 30th November 2016. en-us Wed, 30 Nov 2016 00:00:00 +0530 Wed, 08 Sep 2021 20:41:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297520 The Tribunal upheld the CIT(A)'s decision to allow the assessee to set off unabsorbed depreciation against long term capital gain for the assessment year 2009-10. Relying on the judgment of the Gujarat High Court, the Tribunal dismissed the revenue's appeal, confirming the set off. The Tribunal found no reason to interfere with the lower authorities' order, leading to the dismissal of both the revenue's appeal and the assessee's cross objection. The decision was pronounced in Chennai on 30th November 2016. Case-Laws Income Tax Wed, 30 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297520