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Unabsorbed Depreciation Cannot Offset Income from Unexplained Cash Deposits: CIT(A) Decision Upheld.

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....Depreciation of earlier year was not allowed to be set off against the income offered as unexplained cash deposit made in the account of axis bank - CIT(A) is justified in disallowing set off of unabsorbed depreciation from earlier years against income from other sources - AT....

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