Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2018 Year 2018 This

Unabsorbed depreciation of current year and earlier year as ...

Income Tax

May 21, 2018

Unabsorbed depreciation of current year and earlier year as allowable against income under the Head “Income from other sources” being disclosed/assessed u/s 68 - w.e.f. A.Y. 2017- 2018 any type of loss will not be allowed deduction and this Amendment is not retrospective in nature. - AT

View Source

 


 

You may also like:

  1. Carry forward of unabsorbed depreciation - carried forward unabsorbed depreciation of the earlier year has to be taken as a part of the current year’s depreciation...

  2. Set off of current year business loss against foreign dividend income - levy of tax u/s 115BBD on gross foreign dividend income - assessee would be entitled for set off...

  3. Deduction u/s 10B - Here in the case in hand, the total income was first arrived at by the Revenue through the AO in the Assessment Order by computing the total income...

  4. Set off of brought forward non speculative loss against the current years speculative income - Set off of loss from one head against income from another - there is no...

  5. Once the unabsorbed carried forward depreciation has become a part of the depreciation of the current year, it is not open to the assessee to bifurcate the two again and...

  6. Set off of unabsorbed depreciation allowances against income under the head salary - losses under the head income from business or profession, including unabsorbed...

  7. Revision u/s 263 by CIT - Unabsorbed Depreciation or unabsorbed Business Loss - Even, assuming for a moment, the PCIT is right on his observation, but fact remains that...

  8. Set off of 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...

  9. Set-off of unabsorbed deprecation against short term capital gains - if current depreciation is deductible in the first place from the income of the business to which it...

  10. Claim of setoff of unabsorbed depreciation carried forward from earlier year - Assessing officer directed to allow the claim of setoff of unabsorbed depreciation carried...

  11. The income relatable to earlier year cannot be added to the income of this year - AT

  12. Depreciation of earlier year was not allowed to be set off against the income offered as unexplained cash deposit made in the account of axis bank - CIT(A) is justified...

  13. Exemption u/s.10A has to be allowed without setting off brought forward unabsorbed losses or depreciation from earlier assessment year or current assessment year either...

  14. Unaccounted income over and above the regular income registered in the books of account - There is no dispute that assessee was engaged for development of project of...

  15. Period of limitation for carrying forward of Unabsorbed depreciation loss prior to assessment year - once the Circular No.14 of 2001 clarified that the restriction of 8...

 

Quick Updates:Latest Updates