https://www.taxtmi.com/caselaws?id=57372 The Appellate Tribunal ITAT Bangalore dismissed both the assessee's and the revenue's appeals, affirming the Commissioner's decision to allow the set off of unabsorbed development rebate for the relevant assessment years. The Tribunal emphasized the need for proper assessment to claim unabsorbed depreciation and development rebate, rejecting the assessee's claim for depreciation but allowing the development rebate based on previous judicial decisions. This judgment clarified the eligibility criteria for carrying forward and setting off unabsorbed depreciation and development rebate in income tax assessments. en-us Mon, 19 Sep 1983 00:00:00 +0530 Thu, 09 Dec 2010 17:55:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57372 The Appellate Tribunal ITAT Bangalore dismissed both the assessee's and the revenue's appeals, affirming the Commissioner's decision to allow the set off of unabsorbed development rebate for the relevant assessment years. The Tribunal emphasized the need for proper assessment to claim unabsorbed depreciation and development rebate, rejecting the assessee's claim for depreciation but allowing the development rebate based on previous judicial decisions. This judgment clarified the eligibility criteria for carrying forward and setting off unabsorbed depreciation and development rebate in income tax assessments. Case-Laws Income Tax Mon, 19 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57372