https://www.taxtmi.com/caselaws?id=168560 Unabsorbed depreciation carried forward from earlier years and deemed under section 10(2)(vi) to form part of the current year's depreciation allowance could be set off against income under other heads. Section 24(1) permitted such set-off once the depreciation was brought into the current year by the deeming provision. Section 24(2) and proviso (b) were treated as governing the priority between carried-forward business losses and unabsorbed depreciation, requiring business losses to be adjusted first, but not barring set-off of unabsorbed depreciation against other heads of income. The question was answered in the affirmative in favour of the assessee. en-us Wed, 03 Oct 1962 00:00:00 +0530 Thu, 12 Mar 2015 14:18:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168560 Unabsorbed depreciation carried forward from earlier years and deemed under section 10(2)(vi) to form part of the current year's depreciation allowance could be set off against income under other heads. Section 24(1) permitted such set-off once the depreciation was brought into the current year by the deeming provision. Section 24(2) and proviso (b) were treated as governing the priority between carried-forward business losses and unabsorbed depreciation, requiring business losses to be adjusted first, but not barring set-off of unabsorbed depreciation against other heads of income. The question was answered in the affirmative in favour of the assessee. Case-Laws Income Tax Wed, 03 Oct 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168560