https://www.taxtmi.com/caselaws?id=57200 The Tribunal affirmed that Section 115JB of the Income-tax Act was applicable to the case, upholding the Assessing Officer's rectification under Section 154 to disallow the deduction of unabsorbed depreciation. The Tribunal found that if the amount of loss brought forward or unabsorbed depreciation is nil, the provisions of Section 115JB shall not apply. The Tribunal also held that the AO's rectification under Section 154 was legitimate, citing that granting a benefit in ignorance of statutory requirements can be rectified. Consequently, the appeal by the assessee was dismissed. en-us Fri, 06 Jan 2006 00:00:00 +0530 Wed, 03 Aug 2016 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57200 The Tribunal affirmed that Section 115JB of the Income-tax Act was applicable to the case, upholding the Assessing Officer's rectification under Section 154 to disallow the deduction of unabsorbed depreciation. The Tribunal found that if the amount of loss brought forward or unabsorbed depreciation is nil, the provisions of Section 115JB shall not apply. The Tribunal also held that the AO's rectification under Section 154 was legitimate, citing that granting a benefit in ignorance of statutory requirements can be rectified. Consequently, the appeal by the assessee was dismissed. Case-Laws Income Tax Fri, 06 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57200