https://www.taxtmi.com/caselaws?id=58962 The Tribunal partially allowed the appeal, permitting the set off of unabsorbed depreciation of Rs. 46,666 under Section 72. However, it upheld the disallowance of the remaining loss related to assessment year 1969-70, amounting to Rs. 8,57,659. The Tribunal emphasized the preferential treatment of carrying forward and setting off depreciation for an unlimited period under Section 32(2), maintaining a balance between business losses and future profits. en-us Mon, 12 Oct 1987 00:00:00 +0530 Thu, 23 Dec 2010 13:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58962 The Tribunal partially allowed the appeal, permitting the set off of unabsorbed depreciation of Rs. 46,666 under Section 72. However, it upheld the disallowance of the remaining loss related to assessment year 1969-70, amounting to Rs. 8,57,659. The Tribunal emphasized the preferential treatment of carrying forward and setting off depreciation for an unlimited period under Section 32(2), maintaining a balance between business losses and future profits. Case-Laws Income Tax Mon, 12 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58962