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of <h1>Options when disputes reduce losses or unabsorbed depreciation: carry forward full with tax on reduction, or carry forward reduced amount</h1> Where a dispute reduces a loss or unabsorbed depreciation, the declarant may either (i) include tax, surcharge and cess on the reduced amount in the disputed tax and carry forward the loss or unabsorbed depreciation as if not reduced, or (ii) carry forward the reduced amount. If option (ii) is chosen, the declarant must pay tax, surcharge, cess and any interest arising from carrying forward the reduced amount in later years. The written down value of the asset block shall not be increased by the reduction, and where the reduction relates to issues decided in the declarant's favour, only half the reduction is treated for carryforward.
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