https://www.taxtmi.com/caselaws?id=219066 The High Court upheld the Tribunal's decision, allowing the set off of unabsorbed depreciation against income from other sources under Section 32(2) of the Income Tax Act. The Court clarified that Section 72(2) does not restrict such set off, rejecting the Revenue's argument. The appeal by the Revenue was dismissed, affirming the Tribunal's order for the assessment year 1998-99. en-us Mon, 15 Oct 2012 00:00:00 +0530 Sat, 01 Dec 2012 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219066 The High Court upheld the Tribunal's decision, allowing the set off of unabsorbed depreciation against income from other sources under Section 32(2) of the Income Tax Act. The Court clarified that Section 72(2) does not restrict such set off, rejecting the Revenue's argument. The appeal by the Revenue was dismissed, affirming the Tribunal's order for the assessment year 1998-99. Case-Laws Income Tax Mon, 15 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219066