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2016 (5) TMI 109 - SCH - Income TaxSet off of Unabsorbed depreciation - Held that:- Unabsorbed depreciation as on April 1, 1997, can be set off against the income from any head for the immediate assessment year following April 1, 1997 (assessment year 1998-99)and thereafter if there still is any unabsorbed depreciation the same can be set off only against the business income for a period of eight (08) assessment years.
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