https://www.taxtmi.com/caselaws?id=27633 The High Court ruled against the assessee in a case concerning the entitlement to carry forward and set off unabsorbed losses, unabsorbed depreciation, and relief under section 32(1)(iii). The court held that the assessee could not claim these benefits as the businesses related to the losses and depreciation were discontinued, emphasizing the requirement for the businesses to be continuously carried on for such set-offs. The court cited relevant precedents and concluded in favor of the Revenue, ordering the assessee to bear the costs and counsel's fee. en-us Thu, 29 Sep 1983 00:00:00 +0530 Mon, 15 Feb 2010 11:23:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27633 The High Court ruled against the assessee in a case concerning the entitlement to carry forward and set off unabsorbed losses, unabsorbed depreciation, and relief under section 32(1)(iii). The court held that the assessee could not claim these benefits as the businesses related to the losses and depreciation were discontinued, emphasizing the requirement for the businesses to be continuously carried on for such set-offs. The court cited relevant precedents and concluded in favor of the Revenue, ordering the assessee to bear the costs and counsel's fee. Case-Laws Income Tax Thu, 29 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27633