2009 (12) TMI 932

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....er the brought forward unabsorbed depreciation (since assessment year 1988-89 to 1994-95) can be set off with the long term capital gain in view of the amendment made to Section 32(2) of the Finance Act, 1997 w.e.f. 1997-98. The Tribunal has answered this issue in affirmative and for this purpose it relied upon its earlier decision in the case of Income Tax Officer vs. Selchem Engineers (P) Ltd, 2....