https://www.taxtmi.com/caselaws?id=204423 The tribunal upheld the CIT(A)'s decision to allow the carry forward of unabsorbed depreciation loss, stating that only the condition of insufficient profit is required for such carry forward under section 32(2). Regarding the business loss, the tribunal directed the Assessing Officer to permit its carry forward, emphasizing that the return of income was filed before the due date as required by section 139(3). The tribunal dismissed the revenue's appeal and allowed the assessee's appeal, ordering the carry forward of both unabsorbed depreciation and business loss in accordance with the Income-tax Act. en-us Thu, 30 Jun 2011 00:00:00 +0530 Mon, 12 Sep 2016 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204423 The tribunal upheld the CIT(A)'s decision to allow the carry forward of unabsorbed depreciation loss, stating that only the condition of insufficient profit is required for such carry forward under section 32(2). Regarding the business loss, the tribunal directed the Assessing Officer to permit its carry forward, emphasizing that the return of income was filed before the due date as required by section 139(3). The tribunal dismissed the revenue's appeal and allowed the assessee's appeal, ordering the carry forward of both unabsorbed depreciation and business loss in accordance with the Income-tax Act. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204423