https://www.taxtmi.com/caselaws?id=782299 ITAT Chennai dismissed the Revenue's appeal and upheld the order of CIT(A) allowing the assessee to set off brought forward book losses/unabsorbed depreciation while computing book profits under s.115JB. Relying on the Karnataka HC decision in Bangalore International Airport, now final due to dismissal of Revenue's SLP, the Tribunal held that, under Explanation 1 clause 2(iii) to s.115JB, the lower of brought forward loss or unabsorbed depreciation as per books must be allowed as reduction. Revenue's case law was distinguished, and no interference with CIT(A)'s order was found warranted. en-us Tue, 04 Nov 2025 00:00:00 +0530 Thu, 27 Nov 2025 08:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782299 ITAT Chennai dismissed the Revenue's appeal and upheld the order of CIT(A) allowing the assessee to set off brought forward book losses/unabsorbed depreciation while computing book profits under s.115JB. Relying on the Karnataka HC decision in Bangalore International Airport, now final due to dismissal of Revenue's SLP, the Tribunal held that, under Explanation 1 clause 2(iii) to s.115JB, the lower of brought forward loss or unabsorbed depreciation as per books must be allowed as reduction. Revenue's case law was distinguished, and no interference with CIT(A)'s order was found warranted. Case-Laws Income Tax Tue, 04 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782299