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| The Tax Publishers2020 TaxPub(DT) 0696 (Guj-HC) INCOME TAX ACT, 1961
Section 72
The issue raised in the present appeal was no longer res-integra as those are squarely covered by decision of this Court in the case of General Motors India (P) Ltd. v. DCIT ((2013 354 ITR 244 Guj) : 2013 TaxPub(DT) 0624 (Guj-HC)). Thus, appeal of Revenue failed and accordingly dismissed.
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Loss - Carry forward and Set-off of - Carry forward and set-off of unabsorbed depreciation -
Issue arose for consideration as to whether Tribunal had erred in law and on facts in allowing assessee's claim of carry forward and set-off of unabsorbed depreciation of assessment years 1995-96 to 1999-2000 against the profit of assessment year 2008-09. Held: The issue raised in the present appeal was no longer res-integra as those are squarely covered by decision of the Court in the case of General Motors India (P) Ltd. v. DCIT ((2013 354 ITR 244 Guj) : 2013 TaxPub(DT) 0624 (Guj-HC)). Thus, appeal of Revenue failed and accordingly dismissed.
REFERRED : Asstt. Commissioner, Assessment II, Bangalore & Ors. v. Velliappa Textiles Ltd. & Anr. [Appeal (Crl) 142 of 19947, dt. 16-9-2003] : 2003 TaxPub(DT) 1413 (SC) S.P. Gupta v. UOI & Ors. AIR 1982 SC 149 General Motors India Pvt. Ltd v. Dy. CIT (2013) 354 ITR 244 Guj) : 2013 TaxPub(DT) 0624 (Guj-HC)
FAVOUR : In assessee's favour
A.Y. :
IN THE GUJARAT HIGH COURT
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