https://www.taxtmi.com/caselaws?id=424844 The Court ruled in favor of the assessee in a case where the Revenue challenged the eligibility for depreciation on wind energy generators (WEGs) and the set off of brought forward losses. The Court found that the transaction for WEGs did occur in March 2006 based on invoices and accounting records, supporting the assessee's eligibility for depreciation. Additionally, the Court held that the unit was a going concern as per the demerger scheme approved by the Court, allowing the assessee to benefit from the set off of brought forward losses. The Court dismissed the Revenue's appeal, affirming the assessee's eligibility on both issues. en-us Thu, 30 Jun 2022 00:00:00 +0530 Fri, 08 Jul 2022 19:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424844 The Court ruled in favor of the assessee in a case where the Revenue challenged the eligibility for depreciation on wind energy generators (WEGs) and the set off of brought forward losses. The Court found that the transaction for WEGs did occur in March 2006 based on invoices and accounting records, supporting the assessee's eligibility for depreciation. Additionally, the Court held that the unit was a going concern as per the demerger scheme approved by the Court, allowing the assessee to benefit from the set off of brought forward losses. The Court dismissed the Revenue's appeal, affirming the assessee's eligibility on both issues. Case-Laws Income Tax Thu, 30 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424844