2025 (9) TMI 156

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....ct'). 1.1 It is seen that the assessee tendered a claim for allowing the benefit of carrying forward of depreciation in the computation of income. The Ld. AO is seen to have dismissed this claim on the ground that such a claim was not presented in the computation of income. Thus, the application u/s 154 of the Act was dismissed by the Ld. AO. 1.2 Aggrieved with this action, the assessee approached the Ld. CIT(A), who also agreed with the action of the Ld. AO and denied claim with the following findings: "5. In the instant case, the matter pertains to calculation of unadjusted depreciation of earlier years at a much later date and that too during the course of giving appeal effect of an entirely different year. No such claim h....

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....last date of hearing, it was seen that this matter was long pending and only as far as back as 04.10.2023 some authorised representative had appeared to seek adjournment. It is felt that after more than 10 separate dates of hearing, this matter deserves to be disposed of. The Ld. DR was requested to assist in going through the documents and the facts. 1.4 This appeal has been filed with the following grounds of appeal as under: 1. For that the grounds of appeal hereto are without prejudice to each other. 2. For that the learned Commissioner of Income Tax (Appeal) has erred in not considering the claim of carry forward and set off of unabsorbed depreciation on the grounds inter-alia that the same was made in proceeding o....

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....re the Hon'ble Income Tax Appellate Tribunal, which has been pleased to dismiss the appeal. That the appellant thereafter filed the petition for rectification before the learned assessing officer under section 154 of the Income Tax Act, 1961 (hereinafter called the Act) on the grounds inter-alia that the losses determined in course of assessment for the year preceding that is, assessment year 2013-14 was not allowed to be set off. The appellant also stated that even the unabsorbed depreciation was not considered and allowed to be set of. The learned Commissioner of Income Tax (Appeal) in a detailed order allowed the claim of carry forward and set of business loss. The learned Commissioner of Income Tax (Appeal....