Condonation of refiling delay refused where repeated defects, lack of diligence and vague explanations defeated the appeal against resolution plan app...
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Brought-forward unabsorbed depreciation is added to current-year depreciation and retains the character of depreciation, allowing set-off against income under other taxable heads. Its availability does not depend on the existence of positive business income. Accordingly, unabsorbed depreciation may be set off against income from house property, consistent with the principle that it can be carried forward and adjusted against other taxable income.
Brought-forward unabsorbed depreciation is added to current-year depreciation and retains the character of depreciation, allowing set-off against income under other taxable heads. Its availability does not depend on the existence of positive business income. Accordingly, unabsorbed depreciation may be set off against income from house property, consistent with the principle that it can be carried forward and adjusted against other taxable income.
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