https://www.taxtmi.com/caselaws?id=771027 The Tribunal ruled that unabsorbed depreciation carried forward from previous years can be set off against income from other sources. Interpreting sections 32(2) and 72(1) of the Income Tax Act, the court held that brought forward unabsorbed depreciation becomes current year depreciation allowance, thereby enabling set-off across different income heads. The appeal was allowed, overturning lower authorities' restrictive interpretation. en-us Thu, 27 Mar 2025 00:00:00 +0530 Tue, 20 May 2025 08:53:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771027 The Tribunal ruled that unabsorbed depreciation carried forward from previous years can be set off against income from other sources. Interpreting sections 32(2) and 72(1) of the Income Tax Act, the court held that brought forward unabsorbed depreciation becomes current year depreciation allowance, thereby enabling set-off across different income heads. The appeal was allowed, overturning lower authorities' restrictive interpretation. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771027