2020 (2) TMI 614

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....Neera Malhotra, CIT-DR Revenue by : Shri Cuddapah Ramesh, CA ORDER PER BEENA PILLAI, JUDICIAL MEMBER : The present appeal has been filed by revenue against order dated 28/12/17 passed by Ld. CIT (A)-4, Bangalore for assessment year 2011-12 on following grounds of appeal: 1. The order of the Ld.CIT(A) in so far as it is prejudicial to the interest of the revenue is opposed to l....

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.... and that of the AO may be restored. 5. The appellant craves leave to add, alter, amend and/or delete any of the grounds that may be urged. 2. Brief facts of the case are as under: Assessee is a company engaged in business of manufacturing, trading and distribution of rubberized coir mattresses, furniture, allied produces and e-commerce. It filed its return of income on 30/09/11, de....

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....t assessment years. She submitted that assessee for year under consideration has carry forwardd and set off of unabsorbed depreciation more than 8 years from assessment year 2001-02. 5.1 She placed reliance upon view taken by Ld.AO. 5.2 On the contrary, Ld.AR placed reliance upon observations of Ld. CIT (A). 6. We have perused submissions advanced by both sides in light of records placed ....

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....are (Kar) 81 and various other decisions as has been placed in the paper book filed before us wherein it was held that where ever unabsorbed depreciation was not allowed to be set off against the profit arising after the period of 8 years should be a game considered to be set off after amendment. It was observed that when quantum of unabsorbed depreciation is computed after the amendment, whatever....