https://www.taxtmi.com/caselaws?id=49279 Unabsorbed depreciation under section 10(2)(vi) of the Indian Income-tax Act, 1922 could be carried forward and added to the current year's depreciation allowance, then set off against the assessee's total income, including income under other heads. The Court read proviso (b) as permitting full effect to the allowance where it could not be absorbed in the assessment year, and held that section 24 on loss set-off did not exclude this operation. The contrary view limiting depreciation relief to business profits alone was rejected, and the assessee's entitlement to the broader set-off was upheld. en-us Mon, 01 Nov 1965 00:00:00 +0530 Tue, 19 Aug 2014 08:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49279 Unabsorbed depreciation under section 10(2)(vi) of the Indian Income-tax Act, 1922 could be carried forward and added to the current year's depreciation allowance, then set off against the assessee's total income, including income under other heads. The Court read proviso (b) as permitting full effect to the allowance where it could not be absorbed in the assessment year, and held that section 24 on loss set-off did not exclude this operation. The contrary view limiting depreciation relief to business profits alone was rejected, and the assessee's entitlement to the broader set-off was upheld. Case-Laws Income Tax Mon, 01 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49279