{"id":3286,"date":"2018-12-18T06:50:08","date_gmt":"2018-12-18T06:50:08","guid":{"rendered":"http:\/\/itatonline.org\/digest\/acit-v-panchmahal-steel-ltd-2018-64-itr-49-ahd-trib\/"},"modified":"2018-12-18T06:50:08","modified_gmt":"2018-12-18T06:50:08","slug":"acit-v-panchmahal-steel-ltd-2018-64-itr-49-ahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-panchmahal-steel-ltd-2018-64-itr-49-ahd-trib\/","title":{"rendered":"ACIT v. Panchmahal Steel Ltd. (2018) 64 ITR 49 (Ahd.)(Trib)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Tribunal held that unabsorbed depreciation for earlier years upto AY 2001-02 would become the depreciation for AY 2002-03. And as per the amendment to section 32(2) of the Act by FA 2001, this unabsorbed depreciation for AY 2002-03 would be carried forward for subsequent years and be set-off against income of the future years without any time limit instead of the alleged time limit of 8 years.\u00a0 Followed General Motors India Pvt. Ltd. v. DCIT ( 2013) \u00a0354 ITR 244 (Guj)(HC) (AY. 2006-07)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 32 : Depreciation-Set-off of Unabsorbed depreciation \u2013 Any unabsorbed depreciation available on 01.04.2002 i.e AY 2002-03 would be carried forward as per amended provisions of 32(2) of the Act without any time limit. [ 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":[1],"tags":[],"class_list":["post-3286","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-R0","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3286","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=3286"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3286\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}