https://www.taxtmi.com/caselaws?id=49738 Unabsorbed depreciation relating to a year ending 31 March 1939 was treated as part of the depreciation allowance for the succeeding assessment year under section 10(2)(vi) of the Indian Income-tax Act, 1922. The amended proviso was held to operate by reference to the assessment year, not the accounting year, so the exclusion of years ending before 1 April 1939 did not bar carry forward for assessment year 1939-40. The statutory scheme deemed unabsorbed depreciation of one year to form part of the allowance for the next year, and the proviso did not prevent carry forward where the relevant assessment year was not excluded and full effect could not be given because of insufficient profits or gains. en-us Mon, 12 Nov 1951 00:00:00 +0530 Mon, 03 Nov 2025 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49738 Unabsorbed depreciation relating to a year ending 31 March 1939 was treated as part of the depreciation allowance for the succeeding assessment year under section 10(2)(vi) of the Indian Income-tax Act, 1922. The amended proviso was held to operate by reference to the assessment year, not the accounting year, so the exclusion of years ending before 1 April 1939 did not bar carry forward for assessment year 1939-40. The statutory scheme deemed unabsorbed depreciation of one year to form part of the allowance for the next year, and the proviso did not prevent carry forward where the relevant assessment year was not excluded and full effect could not be given because of insufficient profits or gains. Case-Laws Income Tax Mon, 12 Nov 1951 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49738