https://www.taxtmi.com/caselaws?id=192786 The appeal by the revenue was dismissed as the Tribunal allowed the set off of brought forward business loss and unabsorbed depreciation against short term capital gain under section 50 of the Income Tax Act. The Tribunal considered the gain from the sale of depreciable assets as business income, permitting the set off in accordance with relevant case law and previous decisions. en-us Wed, 30 Nov 2011 00:00:00 +0530 Tue, 20 Jun 2017 17:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192786 The appeal by the revenue was dismissed as the Tribunal allowed the set off of brought forward business loss and unabsorbed depreciation against short term capital gain under section 50 of the Income Tax Act. The Tribunal considered the gain from the sale of depreciable assets as business income, permitting the set off in accordance with relevant case law and previous decisions. Case-Laws Income Tax Wed, 30 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192786