2019 (2) TMI 1678

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ER: Revenue is in appeal before the Tribunal against order of the ld.CIT(A)-12, Ahmedabad dated 28.12.2016 passed for the Asstt.Year 2013- 14. 2. Revenue has pleaded that the ld.CIT(A) has erred in law and on facts in deleting the addition of Rs. 5,17,72,276/- which was added by the AO on account of disallowance of carry forward unabsorbed depreciation. 3. Brief facts of the case are that th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... Hence, he restricted carry forward unabsorbed depreciation and business loss to Rs. 75,05,867/- as against the claim made by the assessee. On appeal, the ld.CIT(A) did not concur with the view taken by the AO. He observed that from the Asstt.Year 2002-03 by virtue of amendment in section 32(2), the depreciation on earlier year would become part of the current year, and thereafter it will survive....