ACIT, CC-14, DELHI vs. MAYFAIR RESORTS INDIA LTD., NEW DELHI

In the result, the appeal of the revenue is dismissed

section 32(2) of Income Tax Act 1961) creates a legal fiction and under that fiction unabsorbed depreciation either with or without current year's depreciation is deemed to be the current year's depreciation but it is well settled, as has been observed by this Court in Bengal Immunity Co. Ltd. v. State of Bihar

ACIT, CC-15, NEW DELHI vs. YASH PAL MENDIRATTA, DELHI

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessees are also dismissed