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2011 (2) TMI 150 - HC - Income TaxCarry forward and set off of unabsorbed depreciation - The provisions relating carry forward and set off of unabsorbed depreciation and unabsorbed loss, the Act has dispensed with the condition of continuance of same business for the purpose of carry forward and set off of unabsorbed depreciation - Thus, The CIT(A) and the Tribunal, thus, rightly allowed unabsorbed depreciation relevant to the assessment year 1996-97 to be set off against the income from long term capital gains and income from other sources for the assessment year 2001-2002 - Hence, the substantial question of law is decided against the Revenue and the appeal is consequently dismissed.
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