Gujarat High Court
Pr. Commissioner Of Income Tax - ... vs Petrofiles Co-Operative Ltd on 5 March, 2018
Author: Akil Kureshi
Bench: Akil Kureshi, B.N. Karia
C/TAXAP/890/2017 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL NO. 890 of 2017
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PR. COMMISSIONER OF INCOME TAX - VADODARA-1
Versus
PETROFILES CO-OPERATIVE LTD
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Appearance:
MR KM PARIKH for the PETITIONER(s) No. 1
MR.VARUN K.PATEL for the PETITIONER(s) No. 1
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CORAM: HONOURABLE MR.JUSTICE AKIL KURESHI
and
HONOURABLE MR.JUSTICE B.N. KARIA
Date : 05/03/2018
ORAL ORDER
(PER : HONOURABLE MR.JUSTICE AKIL KURESHI) The Revenue is in appeal against the judgment of Income Tax Appellate Tribunal dated 12.1.2017 raising the following questions for our consideration :
"Whether on the facts and in the circumstances of the case, the ITAT was right in law in directing the Assessing Officer to allow carry forward of depreciation which has been allowed to the assessee because unabsorbed depreciation up to 199798 would become depreciation of the current year and to be treated in accordance with law ?"
Issue pertains to allowability of carry forward of unabsorbed depreciation. Issue is covered in favour of the assessee by virtue of judgment in case of General Motors India P. Ltd. v. Deputy Commissioner of Incometax reported in (2013) 354 ITR 244 (Guj). The Tribunal has in fact, relied on Page 1 of 2 C/TAXAP/890/2017 ORDER this judgment. No question of law arises. Tax Appeal is dismissed.
(AKIL KURESHI, J.) (B.N. KARIA, J.) raghu Page 2 of 2