{"id":17439,"date":"2021-05-01T14:27:12","date_gmt":"2021-05-01T08:57:12","guid":{"rendered":"https:\/\/itatonline.org\/digest\/harvey-heart-hospitals-ltd-v-acit-2021-431-itr-83-madhc\/"},"modified":"2021-05-01T14:27:12","modified_gmt":"2021-05-01T08:57:12","slug":"harvey-heart-hospitals-ltd-v-acit-2021-431-itr-83-madhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/harvey-heart-hospitals-ltd-v-acit-2021-431-itr-83-madhc\/","title":{"rendered":"Harvey Heart Hospitals Ltd. v. ACIT (2021) 431 ITR 83 (Mad)(HC)"},"content":{"rendered":"<p>Court held that\u00a0 in view of the amended provisions of section\u00a032(2)\u00a0of the\u00a0Income-tax Act, 1961\u00a0, with effect from April 1, 1997, the deeming fiction of treating the earlier years\u2019 unabsorbed depreciation as the current year\u2019s 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 \u00a0\u00a0the 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)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.32:Depreciation \u2014 Unabsorbed depreciation \u2014 Carry forward and set off \u2014 Amendment of section 32(2) W.E.F. 1-4-1997 &#8211; Limitation for carry forward and set off  is eight Years .[ 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-17439","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4xh","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17439","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=17439"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17439\/revisions"}],"predecessor-version":[{"id":17440,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17439\/revisions\/17440"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=17439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=17439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=17439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}