2018 (3) TMI 1905 - HC - Income Tax

Carry forward of unabsorbed depreciation - HELD THAT - Issue pertains to allowability of carry forward of unabsorbed depreciation. Issue is covered in favour of the assessee by virtue of judgment in case of General Motors India P. Ltd. v. Deputy Commissioner of Income tax 2012 (8) TMI 714 - GUJARAT HIGH COURT The Tribunal has in fact, relied on this judgment. No question of law arises. Tax Appeal is Dismissed.

Summary

The Gujarat High Court dismissed the Tax Appeal regarding the carry forward of unabsorbed depreciation, citing a previous judgment in favor of the assessee. The issue was covered by the judgment in the case of General Motors India P. Ltd. v. Deputy Commissioner of Income-tax.