The High Court observed that the appellant did not claim carry forward of unabsorbed depreciation of amalgamation of amalgamating companies in its own assessment
The Bombay High Court granted relief to Technova Imaging Systems and allowed the depreciation claim without the approval under Section 72A of the Income Tax Act, 1961. One of the main grounds issued by the assessee, Technova Imaging Systems, in the appeal was whether the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) was…
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