https://www.taxtmi.com/caselaws?id=5924 Unabsorbed depreciation could be carried forward and allowed in the assessment of a firm after it became registered in the succeeding year, because the Indian Income-tax Act, 1922 contained no express restriction denying that benefit on a change from unregistered to registered status. The firm's identity remained the same, and registration affected only its fiscal treatment, not its entitlement to the carry forward. The provisions governing depreciation and set-off were construed to permit the deduction, and any ambiguity was resolved in favour of the assessee. en-us Wed, 19 Mar 1986 00:00:00 +0530 Wed, 29 Oct 2025 23:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5924 Unabsorbed depreciation could be carried forward and allowed in the assessment of a firm after it became registered in the succeeding year, because the Indian Income-tax Act, 1922 contained no express restriction denying that benefit on a change from unregistered to registered status. The firm's identity remained the same, and registration affected only its fiscal treatment, not its entitlement to the carry forward. The provisions governing depreciation and set-off were construed to permit the deduction, and any ambiguity was resolved in favour of the assessee. Case-Laws Income Tax Wed, 19 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5924