https://www.taxtmi.com/caselaws?id=122821 The Tribunal held that the Commissioner's direction to adjust unabsorbed depreciation for computing profits under section 10B was unsustainable. The Tribunal allowed the benefit of section 10B before setting off losses. Additionally, the Tribunal permitted the set-off of unabsorbed depreciation from prior years against the income of the relevant year where the deduction was not claimed. As a result, the revision appeals were partly allowed, the regular appeal for the assessment year 2005-06 was allowed, and the Stay Petitions were dismissed as infructuous. en-us Fri, 24 Jul 2009 00:00:00 +0530 Fri, 17 Aug 2012 16:33:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122821 The Tribunal held that the Commissioner's direction to adjust unabsorbed depreciation for computing profits under section 10B was unsustainable. The Tribunal allowed the benefit of section 10B before setting off losses. Additionally, the Tribunal permitted the set-off of unabsorbed depreciation from prior years against the income of the relevant year where the deduction was not claimed. As a result, the revision appeals were partly allowed, the regular appeal for the assessment year 2005-06 was allowed, and the Stay Petitions were dismissed as infructuous. Case-Laws Income Tax Fri, 24 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122821