https://www.taxtmi.com/caselaws?id=295482 A registered firm's entitlement to set off unabsorbed depreciation brought forward from earlier years against taxable income for assessment year 1977-78 was examined by applying the Supreme Court's ruling in Garden Silk Weaving Factory v. CIT. The governing principle noted was that brought forward unabsorbed depreciation is to be treated in computing taxable income in the manner recognised by that precedent. On that basis, the question was answered in the affirmative and the assessee was treated as entitled to the set-off. en-us Tue, 09 Jul 2002 00:00:00 +0530 Mon, 19 Jul 2021 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295482 A registered firm's entitlement to set off unabsorbed depreciation brought forward from earlier years against taxable income for assessment year 1977-78 was examined by applying the Supreme Court's ruling in Garden Silk Weaving Factory v. CIT. The governing principle noted was that brought forward unabsorbed depreciation is to be treated in computing taxable income in the manner recognised by that precedent. On that basis, the question was answered in the affirmative and the assessee was treated as entitled to the set-off. Case-Laws Income Tax Tue, 09 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295482