2019 (4) TMI 225 - SCH - Income Tax

Reopening of assessment u/s. 147 - benefit of carry forward and set off of unabsorbed depreciation for the A.Y. 1997-98 against the income of A.Y. 2005-06 which was not in accordance with the provision of section 32(2) as amended by Finance Act 2001 w.e.f. 01.04.2002 - carry forward and set off unabsorbed depreciation against the profits and gains of subsequent years, without any limit - HELD THAT - SLP dismissed.