https://www.taxtmi.com/caselaws?id=11129 The court held that the assessee could set off his share of unabsorbed depreciation from a firm against his income, even if the firm was not conducting business during the relevant previous year. This decision was based on the interpretation of statutory provisions, aligning with the majority view of various High Courts and guidance from the Supreme Court. The judgment favored the assessee, directing the Income-tax Appellate Tribunal to be informed accordingly. en-us Tue, 06 Apr 2004 00:00:00 +0530 Fri, 31 Jul 2009 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11129 The court held that the assessee could set off his share of unabsorbed depreciation from a firm against his income, even if the firm was not conducting business during the relevant previous year. This decision was based on the interpretation of statutory provisions, aligning with the majority view of various High Courts and guidance from the Supreme Court. The judgment favored the assessee, directing the Income-tax Appellate Tribunal to be informed accordingly. Case-Laws Income Tax Tue, 06 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11129