2016 (9) TMI 69

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....for the Opponent JUDGMENT ( Per : Honourable Mr. Justice KS Jhaveri ) 1. By way of this appeal, the assessee has challenged the judgment and order of the Income Tax Appellate Tribunal, Ahmedabad Bench "D", Ahmedabad (For short, "the Tribunal") in ITA No.703/Ahd/2000 dated 01.12.2006 for the assessment year 1996-97, whereby the appeal filed by the revenue was allowed. 2. At the time of ....

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....s submission, he relied upon the following decisions and submitted that the issue involved in this appeal is covered by the following decisions. (i) Seshasayee Paper and Board Ltd. v. Deputy Commissioner of Income-Tax, reported in [2015] 374 ITR 619 (SC); (ii) Sakun Polymers Ltd. v. Joint Commissioner of Income-tax (Assessment), reported in [2015] 57 taxmann.com 65 (Gujarat); ....

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....well. Once the unabsorbed carried forward depreciation has become a part of the depreciation of the current year, it is not open to the assessee to bifurcate the two again and exercise its choice to claim the depreciation of the current year under Section 32 (1) of the Act taking a position that since unabsorbed depreciation of the previous years is not claimed, it cannot be thrust upon the assess....