https://www.taxtmi.com/caselaws?id=202665 The tribunal upheld the decisions of the AO and CIT(A) in disallowing the set off of unabsorbed depreciation against salary income. Despite special treatment, unabsorbed depreciation remains under the head 'Profits and gains of business or profession'. The tribunal clarified that the specific bar against set off of losses against salary income under s. 71 applies regardless of unabsorbed depreciation. Therefore, the appeal was dismissed based on the interpretation of relevant sections of the Income Tax Act and the distinction between unabsorbed depreciation and business loss. en-us Fri, 20 Nov 2009 00:00:00 +0530 Tue, 11 Jun 2013 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202665 The tribunal upheld the decisions of the AO and CIT(A) in disallowing the set off of unabsorbed depreciation against salary income. Despite special treatment, unabsorbed depreciation remains under the head 'Profits and gains of business or profession'. The tribunal clarified that the specific bar against set off of losses against salary income under s. 71 applies regardless of unabsorbed depreciation. Therefore, the appeal was dismissed based on the interpretation of relevant sections of the Income Tax Act and the distinction between unabsorbed depreciation and business loss. Case-Laws Income Tax Fri, 20 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202665