2018 (8) TMI 521

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....d circumstances of the case and in law, the Tribunal was justified in directing the Assessing Officer to allow carry forward and set-off of unabsorbed depreciation of Assessment Year 1999-2000 and Assessment Year 2000-2001 against the profits of Assessment Year 2009- 2010 without appreciating that as per the provisions of Section 32(2) as they stood prior to the amendment by Finance Act, 2001 w.e.f. 01.04.2002, such unabsorbed depreciation was eligible for carry forward and set-off against business profits only for a further period of eight years ?" 3. By order dated 2nd August, 2018, this Appeal alongwith other Appeals raising this very issue have been kept today for final disposal. This, as some of the Appeals are already admitted on thi....

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....hereafter, appeals filed by the Revenue on identical question of law were not entertained by following the decisions of this Court in Hindustan Unilever Ltd. (supra). Attention is invited to The Commissioner of Income Tax, Central-III V/s. M/s. Arch Fine Chemicals Pvt. Ltd. (Income Tax Appeal No. 1037 of 2014) dismissed on 6th December, 2016. Further, the respondents point out the case of Commissioner of Income Tax-3 V/s. M/s. Bajaj Hindustan Ltd. (Income Tax Appeal No. 134 of 2016, 135 of 2016, 136 of 2016, 140 of 2016, 141 of 2016 and 148 of 2016) this Court on 13th June, 2018 dismissed the above Revenue's Appeal. This, we find is on the basis that the Counsel for the Revenue very fairly stated that the issue stands concluded against ....