https://www.taxtmi.com/caselaws?id=168559 Unabsorbed depreciation carried forward under proviso (b) to section 10(2)(vi) retains its character as depreciation allowance and is treated as part of the depreciation of the following year. It is not converted into a business loss for all purposes, but after giving priority to carried forward business losses under section 24(2), the balance may be adjusted against income under other heads as well as business income and profits. en-us Tue, 11 Sep 1962 00:00:00 +0530 Thu, 12 Mar 2015 13:23:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168559 Unabsorbed depreciation carried forward under proviso (b) to section 10(2)(vi) retains its character as depreciation allowance and is treated as part of the depreciation of the following year. It is not converted into a business loss for all purposes, but after giving priority to carried forward business losses under section 24(2), the balance may be adjusted against income under other heads as well as business income and profits. Case-Laws Income Tax Tue, 11 Sep 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168559