2019 (8) TMI 463

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....K PARIKH(3238) ORAL ORDER (PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) 1. This Tax Appeal under Section 260-A of the Income Tax Act, 1961 (for short "the Act, 1961") is at the instance of the Revenue and is directed against the order passed by the Income Tax Appellate Tribunal, Surat Bench, Surat, dated 25.05.2018 in the ITA No.3015/Ahd/2015 for the Assessment Year 2007-08. 2. The Reven....

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....ding that carry forward of unabsorbed depreciation prior to assessment can be set off in subsequent years without setting time limit, without appreciating that the Hon'ble Supreme Court vide record of proceedings dated 11.03.2013 in SLP Civil CC No.5424/2013, in the case of Pr. C.I.T. vs. General Motors India Pvt. Ltd. has kept the question of law on this issue and hence the issue involved has not....

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....97- 98 and the unabsorbed depreciation for the assessment year 1997-98 could be carried forward up to the maximum period of eight years from the year in which it was first computed. According to the Assessing Officer, eight years expired in the assessment year 2005-06 and only till then, the assessee was eligible to claim unabsorbed depreciation of the assessment year 1997-98 for being carried for....