https://www.taxtmi.com/caselaws?id=178406 The Tribunal ruled in favor of the Revenue, holding that unabsorbed depreciation must be set off before computing exemptions under section 10B of the Act. The appeal was allowed, overturning the decision of the Commissioner of Income Tax (Appeals) for the assessment year 2008-09. The Tribunal considered previous decisions and a Supreme Court ruling, ultimately deciding in favor of the Revenue based on the interpretation that unabsorbed depreciation should be set off before calculating deductions under section 10B. en-us Thu, 16 Oct 2014 00:00:00 +0530 Thu, 04 Feb 2016 07:06:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178406 The Tribunal ruled in favor of the Revenue, holding that unabsorbed depreciation must be set off before computing exemptions under section 10B of the Act. The appeal was allowed, overturning the decision of the Commissioner of Income Tax (Appeals) for the assessment year 2008-09. The Tribunal considered previous decisions and a Supreme Court ruling, ultimately deciding in favor of the Revenue based on the interpretation that unabsorbed depreciation should be set off before calculating deductions under section 10B. Case-Laws Income Tax Thu, 16 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178406