Pr.commissioner Of Income Tax-6 v. Indokem Ltd

Digitallysigned byIN THE HIGH COURT OF JUDICATURE AT BOMBAYTRUSHATRUSHATUSHARTUSHARMOHITEMOHITEDate:2023.07.11ORDINARY ORIGINAL CIVIL JURISDICTION10:25:39+0530TRUSHATRUSHATUSHARTUSHARMOHITEMOHITEDate:2023.07.11ORDINARY ORIGINAL CIVIL JURISDICTION10:25:39+0530 INCOME TAX APPEAL NO.477 OF 2018 Pr.Commissioner of Income Tax-6 ….. Appellant Vs. Indokem Ltd. ….. Respondent Mr.Suresh Kumar for the AppellantMr.Nitesh Joshi a/w Mr.Sameer Dalal for the Respondent CORAM:K.R. SHRIRAM, J &FIRDOSH P. POONIWALLA, J. DATED :5TH JULY 2023 P.C. 1.Mr.Suresh Kumar states that the issue in this Appeal is covered by the order of the Apex Court in the case of PrincipalCommissioner of Income-tax, Vadodara 1 vs. Petrofils Co-operativeLtd.[1] which upheld the order dated 05.03.2018 passed by theGujarat High Court between the same parties.[2] 2.Mr.Suresh Kumar also states that Bombay High Court also, inthe case of Commissioner of Income Tax vs. Hindustan UnileverLtd.[3], has taken the same view that depreciation should be allowed to be carried forward. 1(2021) 130 Taxman.com 191 SC 2(2021) 130 Taxman.com 190 3(2017) 394 ITR 73 (Bom) 3.We also find support in the case of General Moors India Pvt. Ltd. vs. Deputy CIT[4]. 4.Appeal is therefore, disposed. (FIRDOSH P.POONIWALLA, J.) (K.R. SHRIRAM, J.)