https://www.taxtmi.com/caselaws?id=290440 The Court dismissed the tax case appeal filed by the Revenue, ruling in favor of the assessee. The Court held that the set off of brought forward unabsorbed depreciation should be considered before allowing the deduction under Section 10B for the assessment year 2003-04. It was also determined that the deduction under Section 10B should not be allowed without considering depreciation loss. The Court found that the decision in the Himatsingke Seide case regarding set off of unabsorbed depreciation loss against other incomes was applicable. The appeal was allowed, and no costs were awarded. en-us Mon, 06 Jul 2020 00:00:00 +0530 Fri, 25 Sep 2020 20:40:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290440 The Court dismissed the tax case appeal filed by the Revenue, ruling in favor of the assessee. The Court held that the set off of brought forward unabsorbed depreciation should be considered before allowing the deduction under Section 10B for the assessment year 2003-04. It was also determined that the deduction under Section 10B should not be allowed without considering depreciation loss. The Court found that the decision in the Himatsingke Seide case regarding set off of unabsorbed depreciation loss against other incomes was applicable. The appeal was allowed, and no costs were awarded. Case-Laws Income Tax Mon, 06 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290440