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2004 (4) TMI 62 - KERALA HIGH COURT
"Whether, Tribunal is right in law in holding that the assessee is entitled to set off his share of unabsorbed depreciation from the firm in which he was a partner, against his income of the previous year even though the firm was not carrying on any business during that previous year?" - we are of the view that a partner of a registered firm is entitled to set off his share of unabsorbed depreciation of the firm in which he was a partner against his income of the previous year even though the firm was not carrying on any business during the previous year.