https://www.taxtmi.com/caselaws?id=179754 The Tribunal directed the AO to allow the set off of unabsorbed depreciation against any income for AY 2002-03 onwards, clarifying that unabsorbed depreciation from AY 1997-98 to 2001-02 can only be set off against business income, not income from Other Sources. This decision was based on the provisions of Section 32(2) of the Income Tax Act, 1961, and relevant case law interpretations. en-us Mon, 29 Apr 2013 00:00:00 +0530 Wed, 09 Mar 2016 12:40:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179754 The Tribunal directed the AO to allow the set off of unabsorbed depreciation against any income for AY 2002-03 onwards, clarifying that unabsorbed depreciation from AY 1997-98 to 2001-02 can only be set off against business income, not income from Other Sources. This decision was based on the provisions of Section 32(2) of the Income Tax Act, 1961, and relevant case law interpretations. Case-Laws Income Tax Mon, 29 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179754