2011 (1) TMI 1039

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.... N. Kumar J. - This appeal is by the revenue challenging the order passed by the Tribunal, which allowed the claim of the assessee to carry forward depreciation. 2. The Assessee Company has set up a 100% export oriented unit. The assessee exercised its option to claim exemption under Section 10B of the Income-tax Act for the assessment year 1996-97. While computing the assessment, the Asse....

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....im of the assessee to carry forward depreciation and thus allowed the appeal of the assessee and granted the deduction. Aggrieved by the same, the revenue is in appeal. 3. The judgment of the ITAT, Bangalore Bench in the case of Himatsingika Seida Ltd. (supra), was challenged by the revenue before this Court. This Court by its order dated 4th August 2006 passed in ITRC No.350/1998 held that the....

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....ore the Apex court in Appeal Civil No.1501/2008 and this Court has to await that decision in the said case. We are not inclined to accept the contention. However, it will not be proper for us to make the assessee to also approach the Apex Court against our order. In these circumstances, we deem it proper to set aside the order of the Tribunal and remand the matter back to the Assessment Officer wi....