https://www.taxtmi.com/caselaws?id=391440 The Tribunal allowed the appeal, permitting adjustment of unabsorbed depreciation against non-business income, including income from property leasing. The decision aligned with the Income Tax Act, treating unabsorbed depreciation as current year depreciation, contrary to the CIT(A)'s disallowance based on past business asset non-use. The Tribunal's ruling emphasized the applicability of set off provisions under section 32(2) of the Act, allowing the assessee's claim in full. en-us Fri, 17 Jan 2020 00:00:00 +0530 Tue, 28 Jan 2020 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391440 The Tribunal allowed the appeal, permitting adjustment of unabsorbed depreciation against non-business income, including income from property leasing. The decision aligned with the Income Tax Act, treating unabsorbed depreciation as current year depreciation, contrary to the CIT(A)'s disallowance based on past business asset non-use. The Tribunal's ruling emphasized the applicability of set off provisions under section 32(2) of the Act, allowing the assessee's claim in full. Case-Laws Income Tax Fri, 17 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391440