2020 (2) TMI 491

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..... 012 (8) TMI 714 - GUJARAT HIGH COURT] which has been followed by this Court in Motor General Finance Limited Vs. ITO [ 2017 (5) TMI 637 - DELHI HIGH COURT] this Court has also considered the said issued in PCIT-2 Vs. British Motor Car Co. (1934) Limite d, [ 2018 (1) TMI 547 - DELHI HIGH COURT] thereby holding in favour of the assessee that the assessee is entitled to avail of the unabsorbed d .....

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..... Delhi, dated 23.03.2016 pertaining to the Assessment Year 2006-07. The sole issue raised by the Revenue before the ITAT was whether the CIT (Appeals) was justified in deleting the addition of ₹ 6,78,59,423/- on account of the unabsorbed depreciation claimed for the Assessment Year 1997-98 under Section 32(2) of the Income Tax Act. The ITAT has placed reliance on two decisions, namely the dec .....

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