https://www.taxtmi.com/caselaws?id=375998 The High Court upheld the Tribunal's decision to reject the claim for set off of unabsorbed depreciation under section 44BB of the Income Tax Act, emphasizing the exclusion of section 32 in such computations. The Court also affirmed the Tribunal's direction to remand the issue of set off of unabsorbed business loss for fresh computation, dismissing the appeal and providing a detailed analysis of the legislative intent behind the computation of profits and gains for eligible assesses under section 44BB. en-us Thu, 21 Feb 2019 00:00:00 +0530 Thu, 28 Feb 2019 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375998 The High Court upheld the Tribunal's decision to reject the claim for set off of unabsorbed depreciation under section 44BB of the Income Tax Act, emphasizing the exclusion of section 32 in such computations. The Court also affirmed the Tribunal's direction to remand the issue of set off of unabsorbed business loss for fresh computation, dismissing the appeal and providing a detailed analysis of the legislative intent behind the computation of profits and gains for eligible assesses under section 44BB. Case-Laws Income Tax Thu, 21 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375998