https://www.taxtmi.com/caselaws?id=290007 Carried forward unabsorbed depreciation under the proviso to section 10(2)(vi) was treated as retaining the same character as current year depreciation and, on that basis, was deductible against the assessee's total world income. The court held that the basis for setting off the carried forward balance must follow the basis applicable to depreciation for the relevant year, rather than being confined to total income. The reference was answered in favour of the Revenue, and costs were awarded against the assessee. en-us Mon, 28 Aug 1961 00:00:00 +0530 Fri, 04 Sep 2020 10:15:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290007 Carried forward unabsorbed depreciation under the proviso to section 10(2)(vi) was treated as retaining the same character as current year depreciation and, on that basis, was deductible against the assessee's total world income. The court held that the basis for setting off the carried forward balance must follow the basis applicable to depreciation for the relevant year, rather than being confined to total income. The reference was answered in favour of the Revenue, and costs were awarded against the assessee. Case-Laws Income Tax Mon, 28 Aug 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290007