https://www.taxtmi.com/caselaws?id=66866 The Appellate Tribunal ITAT INDORE ruled in a case concerning the interpretation of provisions under section 115J of the Income-tax Act for income computation. The Tribunal held that unabsorbed depreciation should be included in calculating the net loss for set off purposes, aligning with commercial principles and legal precedents. The decision allowed the assessee to offset unabsorbed depreciation against the net loss, resulting in a nil book profit. The Tribunal's analysis emphasized the importance of considering depreciation in loss determination and upheld the appeal, ensuring a fair outcome for the assessee. en-us Mon, 10 May 1993 00:00:00 +0530 Mon, 07 Mar 2011 17:44:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66866 The Appellate Tribunal ITAT INDORE ruled in a case concerning the interpretation of provisions under section 115J of the Income-tax Act for income computation. The Tribunal held that unabsorbed depreciation should be included in calculating the net loss for set off purposes, aligning with commercial principles and legal precedents. The decision allowed the assessee to offset unabsorbed depreciation against the net loss, resulting in a nil book profit. The Tribunal's analysis emphasized the importance of considering depreciation in loss determination and upheld the appeal, ensuring a fair outcome for the assessee. Case-Laws Income Tax Mon, 10 May 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66866