https://www.taxtmi.com/caselaws?id=775783 The ITAT Ahmedabad held that brought forward unabsorbed depreciation under section 32(2) can be set off against income from any head, including "Income from other sources," regardless of whether business activity was carried out in the relevant year. The tribunal found that the lower authorities erred in denying the set-off solely because no business was conducted, as this is not a condition precedent under the Act. The CIT(A)'s confirmation of disallowance was set aside, and the AO was directed to allow the set-off of unabsorbed depreciation for the assessment year 2015-16. The assessee's appeal was allowed. en-us Tue, 29 Jul 2025 00:00:00 +0530 Thu, 31 Jul 2025 08:17:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775783 The ITAT Ahmedabad held that brought forward unabsorbed depreciation under section 32(2) can be set off against income from any head, including "Income from other sources," regardless of whether business activity was carried out in the relevant year. The tribunal found that the lower authorities erred in denying the set-off solely because no business was conducted, as this is not a condition precedent under the Act. The CIT(A)'s confirmation of disallowance was set aside, and the AO was directed to allow the set-off of unabsorbed depreciation for the assessment year 2015-16. The assessee's appeal was allowed. Case-Laws Income Tax Tue, 29 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775783