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TMI Blog2020 (2) TMI 614X X X X Extracts X X X X X X X X Extracts X X X X ..... : Shri Cuddapah Ramesh, CA ORDER PER BEENA PILLAI, JUDICIAL MEMBER : The present appeal has been filed by revenue against order dated 28/12/17 passed by Ld. CIT (A)-4, Bangalore for assessment year 2011-12 on following grounds of appeal: 1. The order of the Ld.CIT(A) in so far as it is prejudicial to the interest of the revenue is opposed to law and the facts and circumstances of the case. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... add, alter, amend and/or delete any of the grounds that may be urged. 2. Brief facts of the case are as under: Assessee is a company engaged in business of manufacturing, trading and distribution of rubberized coir mattresses, furniture, allied produces and e-commerce. It filed its return of income on 30/09/11, declaring total income of Rs. 25,47,61,858/- for year under consideration. Ld.AO com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unabsorbed depreciation more than 8 years from assessment year 2001-02. 5.1 She placed reliance upon view taken by Ld.AO. 5.2 On the contrary, Ld.AR placed reliance upon observations of Ld. CIT (A). 6. We have perused submissions advanced by both sides in light of records placed before us. It is observed that the amendment relied upon by Ld.AO has been substituted by Finance Act 2001 w.e.f. 0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... where ever unabsorbed depreciation was not allowed to be set off against the profit arising after the period of 8 years should be a game considered to be set off after amendment. It was observed that when quantum of unabsorbed depreciation is computed after the amendment, whatever balance of unabsorbed depreciation is available to the credit of assessee must be determined as unabsorbed depreciati ..... X X X X Extracts X X X X X X X X Extracts X X X X
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