https://www.taxtmi.com/caselaws?id=32836 The High Court analyzed the provisions of section 32(2) of the Income-tax Act, 1961, and affirmed that unabsorbed depreciation brought forward as of 01.04.1997 could be set off against taxable business profit or income under any other head for specific years. The court upheld the Tribunal's decision to remit the case to the Assessing Officer for verification, confirming the appellant's entitlement to set off unabsorbed depreciation against business profits. The appeal was dismissed as no substantial question of law was found, establishing the appellant's right to claim the set off under the relevant provisions. en-us Wed, 21 Nov 2007 00:00:00 +0530 Sun, 05 Apr 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32836 The High Court analyzed the provisions of section 32(2) of the Income-tax Act, 1961, and affirmed that unabsorbed depreciation brought forward as of 01.04.1997 could be set off against taxable business profit or income under any other head for specific years. The court upheld the Tribunal's decision to remit the case to the Assessing Officer for verification, confirming the appellant's entitlement to set off unabsorbed depreciation against business profits. The appeal was dismissed as no substantial question of law was found, establishing the appellant's right to claim the set off under the relevant provisions. Case-Laws Income Tax Wed, 21 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32836