Carry forward of the depreciation loss - once the Circular No.14 ...

Income Tax

September 21, 2020

Carry forward of the depreciation loss - once the Circular No.14 of 2001 clarified that the restriction of 8 years for carry forward and set off of unabsorbed depreciation had been dispensed with, the unabsorbed depreciation from A.Y.1997-98 upto the A.Y.2001-02 got carried forward to the assessment year 2002-03 and became part thereof, it came to be governed by the provisions of section 32(2) as amended by Finance Act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. - HC

View Source

← Previous Next →

Carry forward of the depreciation loss - once the Circular No.14 ...

Income Tax

September 21, 2020

You may also like:

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...

Amalgamated company is entitled to set off and carry forward the brought forward business losses and unabsorbed depreciation of the amalgamating company from the very...

Unabsorbed business/depreciation loss - carried forward and set off - the legislature has resorted to original provisions by amendment brought in by Finance Act 2001,...

Depreciation to be carried forward allowed - carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever allowed - AT

Assessing Officer directed to allow set off of current year's business loss as well as the brought forward business loss/unabsorbed depreciation against the income...

Disallowing the loss u/s 79 - change in shareholding of the assessee company - any loss that is coming from the assessment year 2013-14 is not allowable against the...

Unabsorbed depreciation can be carried forward (for any number of years) and set off against the profits and gains of subsequent years.

Disallowance u/s 14A - Carry forward of business loss – setting off carry forward business losses now depends on the finality of the addition made by Assessing Officer...

Revised return of loss/unabsorbed depreciation – even if the assessee has not filed revised return, AO is bound to allow carried forward loss or depreciation as per the record - AT

Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay...

Quick Updates: