High Court of Karnataka Allows Assessee's Appeal in Income Tax Case — Disallowance of Carry Forward of Depreciation and Set Off of Business Losses Set Aside. The Court held that the assessment order was barred by limitation under Section 153 of the Income Tax Act, 1961, as it was passed beyond the prescribed period for the assessment year 1987-88.
17 Nov 2015The appellant, M/s. Rajeshwari Cotton Ginning and Pressing Industries, a registered firm engaged in the business of purchase and sale of lint, ginning...
