Court held that  in view of the amended provisions of section 32(2) of the Income-tax Act, 1961 , with effect from April 1, 1997, the deeming fiction of treating the earlier years’ unabsorbed depreciation as the current year’s depreciation was removed and the period available for absorbing the unabsorbed depreciation against the profit of the succeeding years is limited to eight years. Accordingly   the Tribunal was right in law in holding that the unabsorbed depreciation relating to assessment years 1997-98 to 2000-01 was eligible for set off against income of the assessee for the assessment year 2005-06.( AY. 2005-06)