https://www.taxtmi.com/article/detailed?id=2102 Set off of unabsorbed depreciation may be applied against income under other heads without first exhausting brought forward business loss: Section 72(2) directs priority for setting off business loss against business income, while Section 32(2) allows adjustment of unabsorbed depreciation where business income is insufficient, and these provisions do not mandate that business loss be completely exhausted before claiming unabsorbed depreciation against non business income. en-us Tue, 09 Apr 2013 07:37:30 +0530 Tue, 09 Apr 2013 07:37:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=2102 Set off of unabsorbed depreciation may be applied against income under other heads without first exhausting brought forward business loss: Section 72(2) directs priority for setting off business loss against business income, while Section 32(2) allows adjustment of unabsorbed depreciation where business income is insufficient, and these provisions do not mandate that business loss be completely exhausted before claiming unabsorbed depreciation against non business income. Articles Income Tax Tue, 09 Apr 2013 07:37:30 +0530 https://www.taxtmi.com/article/detailed?id=2102