https://www.taxtmi.com/caselaws?id=183828 The appeal filed by the revenue department against the order of the Commissioner of Income-tax (Appeals) regarding the adjustment of brought forward losses and unabsorbed depreciation under section 10A of the Income-tax Act, 1961 was dismissed. The Supreme Court clarified that once losses and unabsorbed depreciation from earlier years have been adjusted against profits of other businesses, they cannot be claimed as adjustable in the current year. The Tribunal upheld the order of the Commissioner of Income-tax (Appeals), stating that the department's claim for adjustment was unjustified and not in accordance with the law. en-us Fri, 29 Feb 2008 00:00:00 +0530 Wed, 22 Jun 2016 17:20:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183828 The appeal filed by the revenue department against the order of the Commissioner of Income-tax (Appeals) regarding the adjustment of brought forward losses and unabsorbed depreciation under section 10A of the Income-tax Act, 1961 was dismissed. The Supreme Court clarified that once losses and unabsorbed depreciation from earlier years have been adjusted against profits of other businesses, they cannot be claimed as adjustable in the current year. The Tribunal upheld the order of the Commissioner of Income-tax (Appeals), stating that the department's claim for adjustment was unjustified and not in accordance with the law. Case-Laws Income Tax Fri, 29 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183828