https://www.taxtmi.com/article/detailed?id=273 The filing-time condition in Section 80 applies to carry forward of business losses but does not extend to statutory amortisation or spread-over provisions that themselves govern yearly allowance and carryover. The Supreme Court's analysis of the film-production deduction shows that where a computation rule allows part-year deduction and directs the balance to be carried to the next year, entitlement to that balance does not depend on timely filing under the return-filing provision applicable to loss carryforwards. Unabsorbed depreciation and similar deductions are therefore governed by their specific computation schemes rather than by Section 80. en-us Sun, 25 Jan 2009 00:00:00 +0530 Sun, 25 Jan 2009 20:08:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=273 The filing-time condition in Section 80 applies to carry forward of business losses but does not extend to statutory amortisation or spread-over provisions that themselves govern yearly allowance and carryover. The Supreme Court's analysis of the film-production deduction shows that where a computation rule allows part-year deduction and directs the balance to be carried to the next year, entitlement to that balance does not depend on timely filing under the return-filing provision applicable to loss carryforwards. Unabsorbed depreciation and similar deductions are therefore governed by their specific computation schemes rather than by Section 80. Articles Income Tax Sun, 25 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=273