https://www.taxtmi.com/caselaws?id=277314 Under the unamended Section 10(2)(vi) of the Indian Income-tax Act, unabsorbed depreciation from the immediately preceding year had to be added to the depreciation allowance for the next year because proviso (b) required the amount not given effect to to be carried forward. The 1939 and 1940 amendments did not alter that position for assessment year 1939-40, as they operated prospectively. Accordingly, the allowance for that year was not limited to current-year depreciation alone, but included the brought-forward unabsorbed depreciation from 1938, and the assessee's contention was upheld. en-us Tue, 09 May 1950 00:00:00 +0530 Sat, 01 Dec 2018 11:20:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277314 Under the unamended Section 10(2)(vi) of the Indian Income-tax Act, unabsorbed depreciation from the immediately preceding year had to be added to the depreciation allowance for the next year because proviso (b) required the amount not given effect to to be carried forward. The 1939 and 1940 amendments did not alter that position for assessment year 1939-40, as they operated prospectively. Accordingly, the allowance for that year was not limited to current-year depreciation alone, but included the brought-forward unabsorbed depreciation from 1938, and the assessee's contention was upheld. Case-Laws Income Tax Tue, 09 May 1950 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277314