https://www.taxtmi.com/caselaws?id=427560 The ITAT allowed the assessee's appeal, overturning the disallowance of the set-off of unabsorbed depreciation against income from other sources, citing a violation of Section 115BBE of the Income Tax Act, 1961. The ITAT emphasized the legislative intent behind the amendment and a CBDT Circular, directing the AO to allow the set-off as permissible until the assessment year 2016-17. The decision was pronounced on 9th September 2022, ordering the AO to permit the set-off of unabsorbed depreciation to the assessee. en-us Fri, 09 Sep 2022 00:00:00 +0530 Mon, 12 Sep 2022 08:17:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427560 The ITAT allowed the assessee's appeal, overturning the disallowance of the set-off of unabsorbed depreciation against income from other sources, citing a violation of Section 115BBE of the Income Tax Act, 1961. The ITAT emphasized the legislative intent behind the amendment and a CBDT Circular, directing the AO to allow the set-off as permissible until the assessment year 2016-17. The decision was pronounced on 9th September 2022, ordering the AO to permit the set-off of unabsorbed depreciation to the assessee. Case-Laws Income Tax Fri, 09 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427560