https://www.taxtmi.com/caselaws?id=413119 The High Court upheld the decision of the Income Tax Appellate Tribunal regarding the disallowance of set off of unabsorbed depreciation for the Assessment Year 2008-09. The Tribunal allowed the unabsorbed depreciation for the assessee, relying on legal precedents and finding no error apparent on the record. The High Court dismissed the appeal by the revenue, affirming the Tribunal's decision and emphasizing the prospective application of the amendment to Section 32(2) of the Income Tax Act. The application under Section 154 was also dismissed as no mistake apparent on the face of the record was demonstrated. en-us Thu, 26 Aug 2021 00:00:00 +0530 Tue, 05 Oct 2021 08:41:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413119 The High Court upheld the decision of the Income Tax Appellate Tribunal regarding the disallowance of set off of unabsorbed depreciation for the Assessment Year 2008-09. The Tribunal allowed the unabsorbed depreciation for the assessee, relying on legal precedents and finding no error apparent on the record. The High Court dismissed the appeal by the revenue, affirming the Tribunal's decision and emphasizing the prospective application of the amendment to Section 32(2) of the Income Tax Act. The application under Section 154 was also dismissed as no mistake apparent on the face of the record was demonstrated. Case-Laws Income Tax Thu, 26 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413119