https://www.taxtmi.com/caselaws?id=262457 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on the set-off of unabsorbed depreciation and business loss. It was clarified that unabsorbed depreciation could be carried forward indefinitely and set off against profits without any time limit. The Tribunal affirmed the CIT(A)'s interpretation that the business loss set-off was valid within the prescribed time frame, rejecting the Revenue's contentions. en-us Fri, 10 Jul 2015 00:00:00 +0530 Sat, 22 Apr 2017 13:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262457 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on the set-off of unabsorbed depreciation and business loss. It was clarified that unabsorbed depreciation could be carried forward indefinitely and set off against profits without any time limit. The Tribunal affirmed the CIT(A)'s interpretation that the business loss set-off was valid within the prescribed time frame, rejecting the Revenue's contentions. Case-Laws Income Tax Fri, 10 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262457