COMMISSIONER OF INCOME TAX vs. GOVIND NAGAR SUGAR LIMITED

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

Section 32(2) of the Act for carry forward of unabsorbed depreciation to any subsequent year. The apex court in CIT v. Jaipuria China Clay Mines (P.) Ltd. [1966]59ITR555(SC) has held that unabsorbed depreciation of past years had to be added to depreciation of the current year and the aggregate unabsorbed and current year's depreciation

M/S. HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, both the appeals filed by the Revenue are allowed for statistical purpose