https://www.taxtmi.com/caselaws?id=439747 The HC dismissed the appeal by the Principal Commissioner of Income Tax-1 concerning the carry forward and set off of unabsorbed depreciation for the assessment year 2007-08. The ITAT's decision was upheld, confirming that unabsorbed depreciation can be carried forward without a time limit, aligning with a jurisdictional HC judgment and CBDT Circular No.14 of 2001. The court found no substantial question of law, citing settled precedent from the General Motors India (P) Ltd. case, and rejected the appeal at the admission stage. en-us Tue, 02 May 2023 00:00:00 +0530 Thu, 07 May 2026 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439747 The HC dismissed the appeal by the Principal Commissioner of Income Tax-1 concerning the carry forward and set off of unabsorbed depreciation for the assessment year 2007-08. The ITAT's decision was upheld, confirming that unabsorbed depreciation can be carried forward without a time limit, aligning with a jurisdictional HC judgment and CBDT Circular No.14 of 2001. The court found no substantial question of law, citing settled precedent from the General Motors India (P) Ltd. case, and rejected the appeal at the admission stage. Case-Laws Income Tax Tue, 02 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439747