https://www.taxtmi.com/caselaws?id=180632 In block assessment, undisclosed income is computed under the ordinary rules of the Act, so loss and unabsorbed depreciation arising in different years within the block period may be set off inter se. The rejection of that claim in principle was incorrect because the statutory scheme does not prohibit such aggregation within the block period, though brought forward items outside the permitted framework remain subject to the statute. The assessee was therefore entitled to the set off claimed, and the matter required remand only for verification and quantification on the available record. en-us Thu, 10 Dec 2009 00:00:00 +0530 Wed, 30 Mar 2016 18:35:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180632 In block assessment, undisclosed income is computed under the ordinary rules of the Act, so loss and unabsorbed depreciation arising in different years within the block period may be set off inter se. The rejection of that claim in principle was incorrect because the statutory scheme does not prohibit such aggregation within the block period, though brought forward items outside the permitted framework remain subject to the statute. The assessee was therefore entitled to the set off claimed, and the matter required remand only for verification and quantification on the available record. Case-Laws Income Tax Thu, 10 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180632