2015 (8) TMI 518 - SCH - Income Tax

Allowance of depreciation for the block period - Whether the Tribunal is right in law in upholding the disallowance of depreciation under section 158BC by considering it as undisclosed income for the assessment year 1995-96 even though the date of filing the return of income has not expired when search took place and no return was yet filed by the assessee also confirmed by High Court 2002 (9) TMI 12 - GUJARAT High Court - Held that - As appellant informs us that the appellant-company has already been wound up and, therefore, there is no body to pursue these appeals. These are accordingly dismissed on this ground alone.