2018 (2) TMI 1902

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....shu Sinha h/f Shri G. K. Naik Thigle a/w D. D. Deshmukh, Advocate for Respondent. PER COURT : 1. Mr. Sharma, learned advocate submits that appeal is filed on the following substantial question of law ­ (i) Whether on the facts and in circumstances of the case, the Hon'ble Tribunal was right in law by allowing the 'Unabsorbed Depreciation' allowances worked out even a....

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....urt in a case of Commissioner of Income Tax - 1 Vs. Hindustan Unilever Ltd. reported in [2016] 72 Taxmann.com 325 (Bombay) to submit that such issue is no longer res integra. 3. This court in the aforesaid judgment observed as under­ "........... 6 (c) We find that the impugned order of the Tribunal while allowing the Assessee - respondents' claim follows the decision ....

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....e unabsorbed depreciation has been dispensed with.  Consequently, unabsorbed depreciation for the intervening periods between assessment 1997­98 upto 2001­02, if available in the assessment year 2002­03 would be allowable as part of carried forward depreciation from Assessment Year 2002­03 onwards.  No decision contrary to the decision of the Gujarat High Court has been s....