https://www.taxtmi.com/caselaws?id=23612 The court interpreted that unabsorbed depreciation allocated to partners of a registered firm can be carried forward by the firm even if not fully set-off, rejecting the view that once allocated, it cannot be carried forward. It favored allowing the firm to carry forward unabsorbed depreciation without limitation of time, emphasizing legislative intent and the principle of "casus omissus." The decision aligned with the Andhra Pradesh High Court's stance, permitting the firm to carry forward depreciation despite partner allocations, and the parties were left to bear their own costs. en-us Fri, 02 Mar 1990 00:00:00 +0530 Tue, 22 Dec 2009 16:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23612 The court interpreted that unabsorbed depreciation allocated to partners of a registered firm can be carried forward by the firm even if not fully set-off, rejecting the view that once allocated, it cannot be carried forward. It favored allowing the firm to carry forward unabsorbed depreciation without limitation of time, emphasizing legislative intent and the principle of "casus omissus." The decision aligned with the Andhra Pradesh High Court's stance, permitting the firm to carry forward depreciation despite partner allocations, and the parties were left to bear their own costs. Case-Laws Income Tax Fri, 02 Mar 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23612