https://www.taxtmi.com/caselaws?id=208986 The High Court ruled in favor of the assessee, holding that the return for unabsorbed depreciation does not need to be filed within the time allowed under section 139(1) of the Income-tax Act for carrying forward unabsorbed depreciation under section 32(2). The court determined that section 80 does not apply to unabsorbed depreciation and that it is governed separately by section 32(2). The appeal was dismissed, with the court emphasizing the distinction between unabsorbed depreciation and business losses in its decision. en-us Fri, 25 Mar 2011 00:00:00 +0530 Sat, 03 Aug 2013 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208986 The High Court ruled in favor of the assessee, holding that the return for unabsorbed depreciation does not need to be filed within the time allowed under section 139(1) of the Income-tax Act for carrying forward unabsorbed depreciation under section 32(2). The court determined that section 80 does not apply to unabsorbed depreciation and that it is governed separately by section 32(2). The appeal was dismissed, with the court emphasizing the distinction between unabsorbed depreciation and business losses in its decision. Case-Laws Income Tax Fri, 25 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208986