https://www.taxtmi.com/caselaws?id=251940 The High Court allowed the set-off of unabsorbed depreciation against capital gains for Assessment Year 1992-93, in line with previous judgments. However, the Court emphasized adherence to the restrictions imposed by Section 34A, limiting the set-off to two-thirds of the allowance. The matter was remitted for reevaluation due to the company's liquidation status, ensuring compliance with legal provisions and previous judicial decisions. en-us Mon, 08 Sep 2014 00:00:00 +0530 Wed, 18 Feb 2015 10:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251940 The High Court allowed the set-off of unabsorbed depreciation against capital gains for Assessment Year 1992-93, in line with previous judgments. However, the Court emphasized adherence to the restrictions imposed by Section 34A, limiting the set-off to two-thirds of the allowance. The matter was remitted for reevaluation due to the company's liquidation status, ensuring compliance with legal provisions and previous judicial decisions. Case-Laws Income Tax Mon, 08 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251940