2018 (2) TMI 1902

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....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 after eight subsequent assessment years, ignoring....

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....stan 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 of the Gujarat High Court in General Motors India (P.) Ltd. V. Dy. CIT [2....

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....absorbed 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 shown to us.  It is clarified that although the decision of the Gujar....