High Court dismissed the Department\u2019s appeal from the order of the Tribunal directing the Assessing Officer to allow carry forward of depreciation which has been allowed to the assessee because unabsorbed depreciation up to 1997-98 would become depreciation of the current year and to be treated in accordance with law, on a petition for special leave to appeal ,\u00a0 dismissing the petition, the Court held\u00a0\u00a0 that in view of the judgments of the Delhi, Gujarat, Madras and Bombay High Courts on the interpretation of section\u00a032(2)\u00a0of the\u00a0Income-tax Act, 1961\u00a0having been upheld by dismissal of special leave petitions therefrom by the Supreme Court, the question of law did not have to be determined in these special leave petitions.<\/p>\n
\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" S.32:Depreciation \u2014 Unabsorbed depreciation \u2014 Amendment of Section 32(2) by Finance Act, 2001 \u2014 Unabsorbed depreciation or part \u2014 Carry forward and set of permitted till final set-off [ S.32 (2) ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-17437","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4xf","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=17437"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17437\/revisions"}],"predecessor-version":[{"id":17438,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17437\/revisions\/17438"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=17437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=17437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=17437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}