https://www.taxtmi.com/caselaws?id=37441 The Tribunal allowed the appeal of the assessee, directing the set-off of unabsorbed depreciation against the income of the assessee-firm for the relevant year. The court held that unabsorbed depreciation retains its identity even when allocated among partners and should be set off against future income, disagreeing with the revenue's contention. The Tribunal was tasked with determining the remaining unadjusted amount of depreciation against the partners' income. en-us Tue, 02 Jan 1979 00:00:00 +0530 Mon, 29 Mar 2010 16:44:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37441 The Tribunal allowed the appeal of the assessee, directing the set-off of unabsorbed depreciation against the income of the assessee-firm for the relevant year. The court held that unabsorbed depreciation retains its identity even when allocated among partners and should be set off against future income, disagreeing with the revenue's contention. The Tribunal was tasked with determining the remaining unadjusted amount of depreciation against the partners' income. Case-Laws Income Tax Tue, 02 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37441