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<h1>Court rules against carrying forward unabsorbed depreciation between companies.</h1> The High Court upheld the Income-tax Officer's decision to deny carrying forward unabsorbed depreciation from a predecessor to a successor company. - ... - The judgment concerns the right of a successor company to claim unabsorbed depreciation of its predecessor. The High Court held that the Income-tax Officer was correct in refusing to carry forward the unabsorbed depreciation into the assessment of the Bengal Flour Mills Company Limited. Panckridge, J. agreed with the decision.