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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 ..... Tribunal in case of as Gran it private limited vs ITO [ 2013 (1) TMI 998 - ITAT BANGALORE] for assessment year 2005-06 and 2006-07, wherein this tribunal relied upon decision of jurisdictional High Court in case of Karnataka Co-Operative Milk Producers Federation Ltd vs DCIT [ 2011 (2) TMI 1465 - KARNATAKA HIGH COURT ] and various other decisions as has been placed in the paper book filed before us wherein it was held that 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 depreciat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se given by the Hon ble High Court which means the fact and circumstances of the case are completely difference from the case at hand. 3. On the facts of the case, whether the Ld.CIT(A) is right in allowing the appeal of the assessee against the provisions enacted in Finance Act 1988-89, in which the limitation for carry forward o the depreciation was restricted to 8 years. 4. For these and other grounds that may be urged at the time of hearing, it is prayed that the order of the CIT(A) in so far as it relates to the above grounds may be reversed and that of the AO may be restored. 5. The appellant craves leave to add, alter, amend and/or delete any of the grounds that may be urged. 2. Brief facts of the case are as und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inance Act 2001 w.e.f. 01/04/02, wherein new subsection (2) of section 32 reinstated the provisions, as it stood in assessment year 1996-97. It has been observed that restrictions imposed by Finance Act (No.2) Act, 1996 in the matter of set off of unabsorbed depreciation has been dispensed with and original provision has been restored. Reliance is also been placed on the decision of on coordinate bench of this Tribunal in case of as Gran it private limited vs ITO in ITA No. 58 and 59/B/2012 for assessment year 2005-06 and 2006-07, wherein this tribunal relied upon decision of jurisdictional High Court in case of Karnataka Co-Operative Milk Producers Federation Ltd vs DCIT reported in (2011) 53 DT are (Kar) 81 and various other decisions ..... X X X X Extracts X X X X X X X X Extracts X X X X
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