https://www.taxtmi.com/caselaws?id=60583 An assessee need not be carrying on its original electricity business to sustain depreciation and unabsorbed depreciation claims if the original activity has not been wholly closed and a real intention to carry on business remains; on the stated facts, the business was treated as dormant rather than extinguished, so the depreciation-related claims were allowed. A bad-debt claim cannot be rejected summarily and must be examined debt-wise on the relevant material, so the matter was remitted for fresh consideration. Interest referable to earlier years did not become current-year income merely because it was received or credited later under the mercantile system, so its inclusion in the current year was disallowed. en-us Tue, 10 Aug 1982 00:00:00 +0530 Fri, 07 Jan 2011 10:47:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60583 An assessee need not be carrying on its original electricity business to sustain depreciation and unabsorbed depreciation claims if the original activity has not been wholly closed and a real intention to carry on business remains; on the stated facts, the business was treated as dormant rather than extinguished, so the depreciation-related claims were allowed. A bad-debt claim cannot be rejected summarily and must be examined debt-wise on the relevant material, so the matter was remitted for fresh consideration. Interest referable to earlier years did not become current-year income merely because it was received or credited later under the mercantile system, so its inclusion in the current year was disallowed. Case-Laws Income Tax Tue, 10 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60583