https://www.taxtmi.com/caselaws?id=7209 Whether unabsorbed depreciation carried forward under the proviso to section 10(2)(vi) can be set off: the proviso treats previously allowed unabsorbed depreciation as an allowance in the assessment year to permit carry forward and set off, and the qualification that depreciation was properly allowed in earlier years suffices; therefore the carried forward unabsorbed depreciation is allowable and may be set off. Whether the business in the assessment year was the same as before: changes in contractual terms, use of customer supplied machinery or materials and sale of old plant alter the method of carrying on the activity but not its essential nature; accordingly business continuity is upheld. en-us Mon, 05 Feb 1968 00:00:00 +0530 Thu, 12 Feb 2009 16:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7209 Whether unabsorbed depreciation carried forward under the proviso to section 10(2)(vi) can be set off: the proviso treats previously allowed unabsorbed depreciation as an allowance in the assessment year to permit carry forward and set off, and the qualification that depreciation was properly allowed in earlier years suffices; therefore the carried forward unabsorbed depreciation is allowable and may be set off. Whether the business in the assessment year was the same as before: changes in contractual terms, use of customer supplied machinery or materials and sale of old plant alter the method of carrying on the activity but not its essential nature; accordingly business continuity is upheld. Case-Laws Income Tax Mon, 05 Feb 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7209