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TMI Blog2018 (10) TMI 1844X X X X Extracts X X X X X X X X Extracts X X X X ..... e then exemption u/s. 10B should be allowed? - HELD THAT:- Since, it is a recurrent issue and the issue has been allowed in the assessee s own case [ 2018 (2) TMI 1998 - ITAT CHENNAI] relying on the judgement of the Hon ble Apex Court in the case of CIT vs Yokagawa India Ltd [ 2016 (12) TMI 881 - SUPREME COURT] the Revenue s appeal is dismissed. - I.T.A. No. 209/Chny/2018 - - - Dated:- 25-10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the Hon ble Karnataka High Court decision in the case of CIT vs Himatasingike Seide Ltd., 286 ITR 255, the AO adjusted the unabsorbed depreciation from the profits earned by the 100% export oriented undertaking and then computed the deduction u/s. 10B. Aggrieved, the assessee filed an appeal before the Ld. CIT(A) and the Ld. CIT(A) following the latest judgement of the Supreme Court in the case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to appreciate that the Apex Court in the case of CIT v Yokogawa (2017) 77 taxmann.com 41 (SC) has not overruled its earlier decision on the issue in the case of Himatasingike Seide Ltd v CIT (2014) 48 taxmann.com 357 (SC). 3. The learned CIT(A) failed to appreciate that unabsorbed depreciation loss of earlier years is to be treated as current depreciation as per Sec.32(2) and the profits eligi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ored. The Ld. DR presented the case on the lines of the grounds of the appeal, supra. 4. The Ld. AR relied on this ITAT decision in the assessee s own case in ITA No. 827, 828, 829 830/Chny/2017 for assessment years 2005- 06, 2007-08, 2008-09 dated 13.02.2018, wherein applying the ratio of the Apex Court in the case of CIT vs Yokogawa, supra, this tribunal allowed the assessee s appeal. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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