https://www.taxtmi.com/caselaws?id=168557 Unabsorbed depreciation and business loss could be carried forward and set off against capital gains under the Income-tax Act, 1922 because the proviso to section 10(2)(vi) was read to cover profits or gains under any head of income, not only the same business. For super-tax rebate under section 17(7), the relevant figure was the full capital gains included in total income, not the residue after set-off under section 24. The constitutional challenge to section 12B was rejected, and the provision was treated as intra vires. en-us Wed, 26 Mar 1952 00:00:00 +0530 Thu, 12 Mar 2015 13:06:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168557 Unabsorbed depreciation and business loss could be carried forward and set off against capital gains under the Income-tax Act, 1922 because the proviso to section 10(2)(vi) was read to cover profits or gains under any head of income, not only the same business. For super-tax rebate under section 17(7), the relevant figure was the full capital gains included in total income, not the residue after set-off under section 24. The constitutional challenge to section 12B was rejected, and the provision was treated as intra vires. Case-Laws Income Tax Wed, 26 Mar 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168557