https://www.taxtmi.com/caselaws?id=276654 Brought-forward unabsorbed depreciation is treated as part of the depreciation allowance of the following year and must be aggregated with current-year depreciation before computing total income. In computing business income, that combined allowance is given effect to first under the depreciation provisions, while the set-off rules for business loss under section 24 operate only after the statutory order of adjustment. Where no separate business loss exists apart from unabsorbed depreciation, the amount remains available for set-off against income under other heads, including dividend income. The effect is that prior-year unabsorbed depreciation is deducted from the relevant assessment year's total income after being merged with the current year's allowance. en-us Tue, 06 Feb 1962 00:00:00 +0530 Thu, 15 Nov 2018 12:17:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276654 Brought-forward unabsorbed depreciation is treated as part of the depreciation allowance of the following year and must be aggregated with current-year depreciation before computing total income. In computing business income, that combined allowance is given effect to first under the depreciation provisions, while the set-off rules for business loss under section 24 operate only after the statutory order of adjustment. Where no separate business loss exists apart from unabsorbed depreciation, the amount remains available for set-off against income under other heads, including dividend income. The effect is that prior-year unabsorbed depreciation is deducted from the relevant assessment year's total income after being merged with the current year's allowance. Case-Laws Income Tax Tue, 06 Feb 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276654