https://www.taxtmi.com/caselaws?id=26009 The High Court held that unabsorbed depreciation losses take precedence over unabsorbed development rebate in allowing setoff against the current year's income. The court cited established legal principles and precedents from various High Courts to support this conclusion. As the assessee did not contest the decision further, the court ruled in favor of the Revenue, rejecting the assessee's claim and directing the transmission of the judgment to the Income-tax Appellate Tribunal in accordance with the Income-tax Act, 1961. en-us Tue, 10 Mar 1987 00:00:00 +0530 Tue, 02 Feb 2010 12:36:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26009 The High Court held that unabsorbed depreciation losses take precedence over unabsorbed development rebate in allowing setoff against the current year's income. The court cited established legal principles and precedents from various High Courts to support this conclusion. As the assessee did not contest the decision further, the court ruled in favor of the Revenue, rejecting the assessee's claim and directing the transmission of the judgment to the Income-tax Appellate Tribunal in accordance with the Income-tax Act, 1961. Case-Laws Income Tax Tue, 10 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26009